New York Stock Exchange to Initiate Trading of Globalstar Common Stock
April 09 2014 - 4:15PM
Today, Globalstar, Inc., the leader in mobile satellite services,
announced that the New York Stock Exchange (NYSE MKT) has approved
its common shares for trading, which will commence on Monday, April
21, 2014. The Company will be listed on the NYSE MKT under the
ticker "GSAT" and will concurrently withdraw its shares from the
OTCQB. The Company is pleased to announce that the NYSE has invited
Globalstar's leadership team to ring the NYSE Opening Bell at
9:30am EDT on the first day of trading.
"Trading on the New York Stock Exchange represents yet another
important milestone in Globalstar's resurgence and has been made
possible by our many important accomplishments over the past twelve
months," said Jay Monroe, Chairman and CEO of Globalstar. "Listing
on the NYSE will enhance the Company's trading liquidity as well as
its visibility, all to the benefit of our loyal stockholders who
have stuck with us over the past many years. Do not think for a
moment that we are finished or that we plan to rest. Quite frankly,
we are just getting started and look forward to continuing our
resurgence."
NYSE MKT is a fully integrated trading venue within the NYSE
Euronext community and leverages the NYSE's advanced and innovative
market model to offer a premier venue for listing and trading the
stocks of small companies. The venue utilizes the trading,
connectivity and routing technologies of the NYSE platform and
offers superior price discovery, superior liquidity and reduced
trading volatility. Listed companies benefit from issuer-selected
Designated Market Makers (DMM) that utilize world-class NYSE
trading systems to discover and improve prices, dampen volatility,
add liquidity and enhance value. In addition, NYSE MKT-listed
companies gain access to the brand visibility and are eligible for
the issuer services enjoyed by the NYSE Euronext community.
"We welcome Globalstar to the NYSE community and look forward to
a strong partnership with the Company and its stockholders," said
Scott Cutler, Executive Vice President and Head of Global Listings
at NYSE Euronext. "Globalstar will join other high technology
companies that benefit from NYSE's trusted and reliable
platform."
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and
data services. Globalstar offers these services to commercial
and recreational users in more than 120 countries around the world.
The Company's products include mobile and fixed satellite
telephones, simplex and duplex satellite data modems and flexible
service packages. Many land based and maritime industries benefit
from Globalstar with increased productivity from remote areas
beyond cellular and landline service. Global customer segments
include: oil and gas, government, mining, forestry, commercial
fishing, utilities, military, transportation, heavy construction,
emergency preparedness, and business continuity as well as
individual recreational users. Globalstar data solutions are ideal
for various asset and personal tracking, data monitoring and SCADA
applications. Note that all SPOT products described in this or
any Globalstar press release are the products of Spot LLC, which is
not affiliated in any manner with Spot Image of Toulouse, France or
Spot Image Corporation of Chantilly, Virginia. SPOT Connect is a
trademark of Spot LLC.
For more information regarding Globalstar, please visit
Globalstar.com.
Safe Harbor Language for Globalstar
Releases
This press release contains certain statements that are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. 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.
Forward-looking statements contained in this release regarding
matters that are not historical facts, involve predictions.
Any forward-looking statements made in this press release are
accurate as of the date made and are not guarantees of future
performance. Actual results or developments may differ materially
from the expectations expressed or implied in the forward-looking
statements, and we undertake no obligation to update any such
statements. Additional information on factors that could influence
our financial results is included in our filings with the
Securities and Exchange Commission, including our Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K.
CONTACT: Investor Contact Information:
Email: investorrelations@globalstar.com
Phone: (985) 335-1538
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