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
OTCMAGIC Spends all day scouring the markets for the next huge Penny Stock Winner. Investors have come to trust us for our up to date commentary on all hot stocks so please visit OTCMAGIC right now and see what it’s all about for yourself! At 30,000 Visitors a Month and growing rapidly OTCMAGIC is the hottest thing in penny stocks!
Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. PLEASE NOTE: OTCMagic.com employees are not registered as an Investment Advisor in any jurisdiction whatsoever. Full disclaimer can be read at http://OTCMagic.com/disclaimer. Release of Liability: Through use of this website viewing or using you agree to hold OTCMagic.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss monetary or otherwise, damage monetary or otherwise, or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. OTCMagic.com affiliates may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. OTCMagic.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and OTCMagic.com. We make no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. This is not a solicitation to buy or sell any securities. Any claims or Statements should be deemed hypothetical. OTCMagic.com, nor any of its affiliates are not registered investment advisors or broker dealers.