Globalstar Announces Intention to Voluntarily Delist from NYSE American and Transfer to Nasdaq Upon Completion of Reverse Stock Split
Globalstar (GSAT) has announced its intention to voluntarily delist from NYSE American and transfer to the Nasdaq Global Select Market. This transition is contingent upon completing a previously disclosed reverse stock split of its common stock. The company expects the last trading day on NYSE American to be around February 10, 2025, with trading on Nasdaq beginning around February 11, 2025.
The company will maintain its current trading symbol 'GSAT' on both exchanges. Globalstar believes this strategic move, combined with the reverse stock split, could enhance the stock's appeal to a broader investor base. The stock will continue trading on NYSE American under 'GSAT' until the Nasdaq transfer is complete.
Globalstar (GSAT) ha annunciato la sua intenzione di ritirarsi volontariamente dalla NYSE American e trasferirsi al Nasdaq Global Select Market. Questa transizione è soggetta al completamento di un frazionamento azionario inverso precedentemente comunicato delle sue azioni ordinarie. L'azienda prevede che l'ultimo giorno di trading sulla NYSE American sia intorno al 10 febbraio 2025, con l'inizio del trading sul Nasdaq previsto intorno all'11 febbraio 2025.
L'azienda manterrà il suo attuale simbolo di trading 'GSAT' su entrambe le borse. Globalstar crede che questa mossa strategica, combinata con il frazionamento azionario inverso, potrebbe aumentare l'attrattiva delle azioni per un pubblico di investitori più ampio. Le azioni continueranno a essere scambiate sulla NYSE American con 'GSAT' fino al completamento del trasferimento al Nasdaq.
Globalstar (GSAT) ha anunciado su intención de desvincularse voluntariamente de NYSE American y transferirse al Nasdaq Global Select Market. Esta transición depende de completar un desdoblamiento de acciones previamente anunciado de sus acciones ordinarias. La empresa espera que el último día de negociación en NYSE American sea alrededor del 10 de febrero de 2025, y que la negociación en Nasdaq comience alrededor del 11 de febrero de 2025.
La empresa mantendrá su símbolo de negociación actual 'GSAT' en ambas bolsas. Globalstar cree que este movimiento estratégico, combinado con el desdoblamiento de acciones, podría aumentar el atractivo de las acciones para una base de inversores más amplia. Las acciones seguirán negociándose en NYSE American bajo 'GSAT' hasta que se complete la transferencia al Nasdaq.
글로벌스타 (GSAT)는 NYSE American에서 자발적으로 상장 폐지하고 Nasdaq Global Select Market로 이전할 계획을 발표했습니다. 이 전환은 기존에 발표된 보통주 역분할을 완료하는 데 달려 있습니다. 회사는 NYSE American에서의 마지막 거래일이 2025년 2월 10일 즈음이 될 것으로 예상하며, Nasdaq에서의 거래는 2025년 2월 11일 즈음 시작될 예정입니다.
회사는 두 거래소에서 현재의 거래 기호 'GSAT'를 유지할 것입니다. 글로벌스타는 이 전략적 조치와 역분할이 결합되어 주식의 매력을 더 넓은 투자자층에 높일 수 있다고 믿고 있습니다. 주식은 Nasdaq 이전이 완료될 때까지 'GSAT'로 NYSE American에서 계속 거래될 것입니다.
Globalstar (GSAT) a annoncé son intention de se retirer volontairement de la NYSE American et de se transférer au Nasdaq Global Select Market. Cette transition dépend de l'achèvement d'un fractionnement d'actions inversé précédemment annoncé de ses actions ordinaires. La société prévoit que le dernier jour de négociation sur la NYSE American sera aux alentours du 10 février 2025, avec le début des négociations sur le Nasdaq prévu aux alentours du 11 février 2025.
La société conservera son symbole de négociation actuel 'GSAT' sur les deux échanges. Globalstar croit que ce mouvement stratégique, associé au fractionnement d'actions inversé, pourrait augmenter l'attrait des actions pour une base d'investisseurs plus large. Les actions continueront à se négocier sur la NYSE American sous 'GSAT' jusqu'à ce que le transfert vers le Nasdaq soit complet.
Globalstar (GSAT) hat seine Absicht angekündigt, sich freiwillig von der NYSE American abzumelden und zum Nasdaq Global Select Market zu wechseln. Dieser Übergang hängt von der Vollziehung eines zuvor angekündigten Aktiensplit's umgekehrt ab. Das Unternehmen erwartet, dass der letzte Handelstag an der NYSE American etwa am 10. Februar 2025 sein wird, während der Handel an der Nasdaq etwa am 11. Februar 2025 beginnen soll.
Das Unternehmen wird sein aktuelles Handelssymbol 'GSAT' an beiden Börsen beibehalten. Globalstar ist der Ansicht, dass dieser strategische Schritt in Kombination mit dem umgekehrten Aktiensplit das Interesse an der Aktie für eine breitere Anlegerbasis erhöhen könnte. Die Aktie wird weiterhin unter 'GSAT' an der NYSE American gehandelt, bis die Übertragung zur Nasdaq abschlossen ist.
- Strategic move to Nasdaq Global Select Market could attract broader investor base
- Maintaining trading continuity with same 'GSAT' symbol across exchanges
- Implementation of reverse stock split indicates potential share price concerns
- Exchange transition may cause temporary trading volatility
Insights
Globalstar's planned migration from NYSE American to Nasdaq, combined with its upcoming reverse stock split, marks a strategic repositioning that warrants investor attention. This move is particularly noteworthy for a telecommunications infrastructure company with a market cap of
The transition to Nasdaq could bring several advantages: First, Nasdaq's reputation as the preferred exchange for technology companies might improve GSAT's visibility among tech-focused investors and analysts. Second, the platform offers superior trading technology and generally lower listing fees compared to NYSE, potentially benefiting both the company and shareholders through reduced operational costs.
The accompanying reverse stock split, while not affecting the company's market value, serves multiple purposes: It helps meet Nasdaq's minimum bid price requirements (typically
However, investors should note that reverse splits historically have mixed market reactions. While they can improve trading dynamics and institutional appeal, they sometimes signal underlying concerns about a company's ability to naturally increase its share price. The success of this move will largely depend on Globalstar's execution of its business strategy and ability to leverage the benefits of the Nasdaq platform.
The timing of the transfer, scheduled for February 11, 2025, provides investors with adequate notice to adjust their trading strategies. Shareholders should expect increased trading activity around the transition date as portfolios and indexes adjust their holdings to reflect the changes.
The Company believes that the voluntary delisting of its Common Stock from the NYSE American and transfer of its listing to Nasdaq, in combination with the Reverse Stock Split, could make the Common Stock more attractive to a broader range of investors.
The last day of trading of the Common Stock on the NYSE American is expected to be on or around February 10, 2025. The Company expects its Common Stock will begin trading on the Nasdaq on or around February 11, 2025, subject to the completion of the Reverse Stock Split, under its current symbol, “GSAT.” Until the Company’s Common Stock begins trading on NASDAQ, the Company’s Common Stock will continue to trade on the NYSE American under its current symbol, “GSAT.”
About Globalstar, Inc.
Globalstar empowers its customers to connect, transmit, and communicate in smarter ways – easily, quickly, securely, and affordably – offering reliable satellite and terrestrial connectivity services as an international telecom infrastructure provider. The Company’s low Earth orbit ("LEO") satellite constellation ensures secure data transmission for connecting and protecting assets, transmitting critical operational data, and saving lives for consumers, businesses, and government agencies across the globe. Globalstar’s terrestrial spectrum, Band 53, and its 5G variant, n53, offer carriers, cable companies, and system integrators a versatile, fully licensed channel for private networks with a growing ecosystem to improve customer wireless connectivity, while Globalstar’s XCOM Radio Access Network ("RAN") product offers significant capacity gains in dense wireless deployments. In addition to SPOT GPS messengers, Globalstar offers next-generation internet of things ("IoT") hardware and software products for efficiently tracking and monitoring assets, processing smart data at the edge, and managing analytics with cloud-based telematics solutions to drive safety, productivity, and profitability. For more information, visit www.globalstar.com.
Safe Harbor Language for Globalstar Releases
Certain statements contained in this press release other than purely historical information, including, but not limited to, expectations regarding the timing of completion of the Reverse Stock Split, delisting from NYSE American and listing on Nasdaq and expected benefits of such transactions, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, without limitation, those described under Item 1A. Risk Factors of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in the Company’s other filings with the SEC. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release to reflect actual results, future events or circumstances or changes in our assumptions, business plans or other changes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121976916/en/
Investor Contact Information:
investorrelations@globalstar.com
Source: Globalstar, Inc.
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