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Globalstar To Raise Another $105 Million In New Stock
New York, September 5, 2000 Globalstar has entered into a purchase agreement with Bear Stearns, under which Bear Stearns has agreed to purchase, subject to certain conditions and over several tranches, up to $105 million of shares of GTL common stock. Bear Stearns will sell the shares of common stock it purchases directly to certain investors or in the market. The purchases will be made at prices based upon the market prices at the time of each tranche. Globalstar Telecommunications Limited will use the proceeds from the sales to purchase partnership interests in Globalstar, L.P., which, in turn, will use the proceeds for general corporate purposes including capital expenditures, operations (including marketing and distribution of phones and services) and interest expense. Globalstar Telecommunications Limited is a general partner of Globalstar, L.P., which has recently commenced operations of a global telecommunications network. Globalstar Telecommunications Limited operates as a holding company to permit public equity ownership in Globalstar, L.P. Community Email This Article Comment On This Article Related Links Globalstar SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Orbcomm's Equity Financings Complete
Bremen, Germany (SPX) Jan 06, 2006OHB Technology affiliated company Orbcomm has announced that it has completed equity financings totaling over $110 million led by Pacific Corporate Group (PCG), which committed $60 million. New investors, in addition to PCG, include investment firms MH Equity Investors and Torch Hill Capital. |
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