Globalstar Files Listing Applications With Both NASDAQ and NYSE
February 24 2014 - 6:00AM
Today, Globalstar, Inc. (OTCQB:GSAT), a leading provider of mobile
satellite services, has announced it has filed applications with
both the NASDAQ Stock Market and the New York Stock Exchange to
list its common stock for trading. The Company intends to select
one of these two markets based upon their respective listing
application process and review in order to ensure that its common
stock is listed for trading in a timely fashion.
Globalstar believes it currently meets all eligibility
requirements of NYSE MKT. With the exception of the duration period
above the minimum closing share price requirement, Globalstar
believes it currently meets all other eligibility requirements of
the NASDAQ Capital Market. Both NYSE and NASDAQ are initiating
reviews of the Company's listing eligibility.
"We are pleased to be in a position to list on one of these two
prestigious exchanges in the near future," said Jay Monroe,
Chairman and CEO of Globalstar. "Our stockholders want enhanced
trading liquidity and market visibility, and we look forward to
completing this process as soon as possible in order to meet their
requests."
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, such as the statements regarding our
expectations with respect to actions by the FCC, future increases
in our revenue and profitability and other 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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