San Diego, CA -- (SBWIRE) -- 10/23/2013 -- Globalstar, Inc. (OTCMKTS:GSAT) stated that a Thermo Funding Company LLC plans to invest around $85 million in equity securities of GSAT. The company said that TFC also invested $6.0 million and $6.5 million twice in the company.
Globalstar says that the Thermo is keen to invest $20 million. The investment in the company is based on share price $0.52 per share. Total of 11,538,461 shares of non-voting common stock will be purchased by exchanging $6.0 million and an additional $20 million.
There can be investment in 38,461,538 shares that consist of $6.5 million amount besides incremental $13.5 million.
Globalstar, Inc. offers mobile voice and data communications services worldwide through satellite. The satellite communications business of company serves clients like government, oil and gas; maritime and fishing; natural resources, mining and forestry; utilities and transportation. The company serves by delivering mobile communications to subscriber’s hat exceed 486,000 in number.
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