Globalstar - GSAT STOCK NEWS

Globalstar, Inc. (NYSE American: GSAT) is set to announce its first quarter 2021 financial results on May 6, 2021, after market close. The company specializes in Satellite IoT Solutions across various industries, including oil and gas, transportation, and emergency management. Globalstar is known for its SmartOne asset tracking products, commercial IoT transmitters, and SPOT product line for safety and messaging. These products enhance operational efficiency and remote monitoring capabilities, supported by the Globalstar Satellite Network.

Globalstar, Inc. (NYSE American: GSAT) will virtually participate in the 24th Annual Burkenroad Reports Investment Conference on April 23, 2023, at 10:00 a.m. CDT. CEO David Kagan will present, with a live stream and presentation materials available on Globalstar's investor relations page. The event is free and open to the public; registration can be completed at burkenroad.org.

Globalstar do Brasil Ltda., a subsidiary of Globalstar (NYSE: GSAT), has partnered with Cisa Trading to enhance asset management solutions in Brazil's oil and gas sector. Their collaboration has improved operations for a major oil company, utilizing Globalstar SmartOne Solar devices for satellite tracking of 4,400 containers in remote areas. These solar-powered devices promise efficiency and low maintenance over a decade. The partnership aims to expand Globalstar's IoT business, capitalizing on Brazil's increasing crude oil exports and potential market growth.

Globalstar (NYSE American: GSAT) has successfully exercised all remaining warrants issued to second lien lenders, generating $47.3 million in equity. This capital raised fulfills its loan agreement requirement to secure a minimum of $45 million by March 30, 2021. The proceeds will be allocated towards repaying principal outstanding under the first lien loan, lowering the remaining principal to approximately $84 million. CEO Dave Kagan emphasized the importance of this milestone and highlighted the company's strong liquidity position and opportunities for refinancing to reduce borrowing costs.

Globalstar (GSAT) announced its Q4 2020 and annual financial results, highlighting a 4% revenue increase to $36.3 million in Q4 and a 1% increase to $128.5 million for the year. Service revenue rose 9% in Q4, driven by engineering services. Gross subscriber activations were up 22% in Q4. However, there was a net loss of $21.7 million for Q4 and $109.6 million for the year, influenced by non-cash items. The company is focusing on expanding its terrestrial spectrum and IoT markets. Globalstar anticipates generating $43.7 million through warrant exercises, aiding debt obligations.

SPOT, LLC, a subsidiary of Globalstar (GSAT), announces a partnership with Jeep Jamboree USA as an official sponsor. This collaboration enhances connectivity for off-road enthusiasts in remote areas through SPOT’s satellite messaging and emergency notification technology. SPOT's services, crucial for safety, include messaging, tracking, and 24/7 S.O.S. emergency response, having facilitated over 7,500 rescues globally. SPOT will have a presence at Jeep events, providing GPS devices to enhance safety and connectivity for attendees.

Globalstar (NYSE American: GSAT) has formed a strategic alliance with XCOM Labs to enhance 5G deployments using XCOM's technology and Globalstar's Band n53 spectrum. This partnership aims to commercialize capacity-multiplying technology in dense environments like airports and arenas, targeting improved wireless performance for future mobile applications. The alliance is expected to leverage XCOM's expertise in wireless technology to maximize the value of Globalstar's spectrum assets.

Globalstar, Inc. (GSAT) announced that Qualcomm has integrated Globalstar's Band n53 into its new 5G X65 modem. This partnership marks a significant milestone in Globalstar's efforts to commercialize its spectrum across the US and other regions. The X65 will enhance mobile broadband, industrial IoT, and fixed wireless applications by expanding device compatibility and spectrum options. Globalstar's executives emphasized the importance of this collaboration in driving their terrestrial spectrum commercialization forward.

Globalstar, Inc. (NYSE American: GSAT) has announced senior leadership changes to enhance growth in the Commercial IoT sector. Jim Mandala has been appointed Vice President of Commercial IoT Sales, bringing 15 years of experience with the company and a solid background in various markets. His focus will be on expanding sales and partnerships in the IoT business, expected to boost revenue growth. Additionally, Chris Gray will join Mandala's team to support IoT development and maintain the reseller base. David Kagan, CEO, expressed confidence in Mandala's leadership to drive success.