Globalstar Announces Plans to Transfer Its Stock Listing to Uplist on Nasdaq
Globalstar (NYSE American: GSAT) has announced plans to transfer its common stock listing to the Nasdaq Global Select Market in the first quarter of 2025. The company's Board of Directors has authorized a reverse stock split to coincide with the uplisting. These strategic moves aim to align trading fundamentals with peers, improve liquidity, and attract greater institutional investor participation. The company will continue trading on NYSE American until the uplisting process is complete. CEO Paul E. Jacobs stated these changes reflect the company's momentum and growth trajectory, expecting to enhance visibility and attract a more diverse shareholder base.
Globalstar (NYSE American: GSAT) ha annunciato piani per trasferire la sua quotazione in azioni ordinarie al Nasdaq Global Select Market nel primo trimestre del 2025. Il Consiglio di Amministrazione della società ha autorizzato un raggruppamento di azioni per coincidere con l'innalzamento della quotazione. Queste mosse strategiche mirano ad allineare i fondamentali di trading con i concorrenti, migliorare la liquidità e attrarre una maggiore partecipazione degli investitori istituzionali. La società continuerà a essere quotata su NYSE American fino al completamento del processo di uplisting. Il CEO Paul E. Jacobs ha dichiarato che questi cambiamenti riflettono il momentum e la traiettoria di crescita dell'azienda, aspettandosi di aumentare la visibilità e attrarre una base di azionisti più diversificata.
Globalstar (NYSE American: GSAT) ha anunciado planes para transferir su cotización de acciones ordinarias al Nasdaq Global Select Market en el primer trimestre de 2025. La Junta Directiva de la compañía ha autorizado un split inverso de acciones para coincidir con la actualización de la cotización. Estos movimientos estratégicos tienen como objetivo alinear los fundamentos de negociación con los de sus pares, mejorar la liquidez y atraer una mayor participación de inversionistas institucionales. La compañía continuará cotizando en NYSE American hasta que se complete el proceso de uplisting. El CEO Paul E. Jacobs declaró que estos cambios reflejan el impulso y la trayectoria de crecimiento de la empresa, esperando aumentar la visibilidad y atraer una base de accionistas más diversa.
Globalstar (NYSE American: GSAT)는 2025년 첫 분기에 Nasdaq Global Select Market으로 일반 주식 상장 이전 계획을 발표했습니다. 회사 이사회는 상장 전환을 위해 주식 병합을 승인했습니다. 이러한 전략적 조치는 거래 기본 사항을 동종 업계와 일치시키고 유동성을 개선하며 더 많은 기관 투자자 참여를 유도하는 것을 목표로 하고 있습니다. 회사는 상장 전환 과정이 완료될 때까지 NYSE American에서 계속 거래될 것입니다. CEO Paul E. Jacobs는 이러한 변화가 회사의 모멘텀과 성장 궤적을 반영하며, 가시성을 높이고 더 다양한 주주 기반을 끌어들일 것으로 기대하고 있다고 밝혔습니다.
Globalstar (NYSE American: GSAT) a annoncé des projets de transfert de sa cotation d'actions ordinaires vers le Nasdaq Global Select Market au premier trimestre 2025. Le Conseil d'administration de la société a autorisé un rachat d'actions pour coïncider avec la montée en cotation. Ces mesures stratégiques visent à aligner les fondamentaux de négociation avec ceux des pairs, à améliorer la liquidité et à attirer une plus grande participation des investisseurs institutionnels. La société continuera à être cotée sur NYSE American jusqu'à ce que le processus de montée en cotation soit complet. Le PDG Paul E. Jacobs a déclaré que ces changements reflètent l'élan et la trajectoire de croissance de l'entreprise, s'attendant à augmenter la visibilité et à attirer une base d'actionnaires plus diversifiée.
Globalstar (NYSE American: GSAT) hat Pläne angekündigt, die Notierung seiner Stammaktien zum Nasdaq Global Select Market im ersten Quartal 2025 zu transferieren. Der Vorstand des Unternehmens hat einen Aktienzusammenlegung genehmigt, um mit der Hochstufung übereinzustimmen. Diese strategischen Schritte zielen darauf ab, die Handelsgrundlagen an die der Wettbewerber anzupassen, die Liquidität zu verbessern und eine größere Teilnahme institutioneller Investoren zu gewinnen. Das Unternehmen wird bis zum Abschluss des Hochstufungsprozesses weiterhin an der NYSE American gehandelt. CEO Paul E. Jacobs erklärte, dass diese Änderungen den Schwung und die Wachstumskurve des Unternehmens widerspiegeln und erwartet, die Sichtbarkeit zu erhöhen sowie eine vielfältigere Aktionärsbasis anzuziehen.
- Uplisting to Nasdaq Global Select Market may increase visibility and institutional investor participation
- Strategic move indicates company's growth trajectory and business momentum
- Planned reverse stock split aims to improve trading fundamentals and liquidity
- Reverse stock split will reduce the number of outstanding shares, which some investors may view negatively
Insights
The planned uplisting to Nasdaq Global Select Market represents a significant strategic move for Globalstar, potentially enhancing its market visibility and trading dynamics. The reverse stock split, while not impacting the company's fundamental value, could attract more institutional investors by bringing the share price to a more conventional range. The Nasdaq Global Select Market has the highest initial listing standards of any exchange in the world, signaling Globalstar's commitment to maintaining high corporate governance standards.
Key implications include:
- Enhanced trading liquidity and institutional investor access
- Broader analyst coverage potential
- Improved market perception alongside tech-focused peers
- Potential inclusion in additional market indices
The Company also announces board approval of a reverse stock split, expected to enhance trading fundamentals and increase institutional investor participation
Globalstar has submitted its application to list on the Nasdaq Global Select Market and the Company is working with Nasdaq to complete the transfer in connection with the effective date of the reverse stock split. The Company's common stock will continue trading on the NYSE American until the uplisting is complete.
“This strategic decision to transfer to the Nasdaq, coupled with a reverse stock split, reflects the exciting momentum and strong growth trajectory in our business. With these changes, we expect to enhance our visibility, attract a more diverse and institutional shareholder base, and improve overall liquidity. At the same time, our reverse split will better align with trading dynamics and technical characteristics of our industry peers, which we expect will unlock value for our shareholders over the near and long-term. We look forward to discussing these initiatives in more detail at our upcoming investor day on December 12,” said Dr. Paul E. Jacobs, Chief Executive Officer of Globalstar.
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 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 uplisting and reverse stock split 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.
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Investor Information:
investorrelations@globalstar.com
Source: Globalstar, Inc.
FAQ
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