Latest Updates & Insights on Globalstar, Inc. (OTCMKTS:GSAT)

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Las Vegas, NV -- (SBWIRE) -- 12/11/2013 -- Globalstar, Inc. (OTCMKTS:GSAT) is trading at $1.72 with after declining 1.15% in share price. The company has market capitalization of 1.29 billion provided 749.53 million share volume.

Globalstar agreed with Hughes Network Systems in a contract to acquire shares. The agreement states that Hughes could acquire shares at its sole option and purchase common stock for cash.

Hughes exercised its option and received $4.3 million voting common stock having 7% discount. The company offered its shares for $14,500,000.

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.

To find out what OTCMAGIC projects for Globalstar, Inc. for both short term and long term please click here: GSAT

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