Globalstar Inc. announced that it has completed a financing of approximately $738 million. The total financing combines a previously announced $586 million credit facility and registered direct offering of convertible debt and warrants for $55 million plus a deposit by Thermo Funding, the majority shareholder of Globalstar, of $60 million into a contingent equity account, and funding of a debt service reserve account. The $738 million financing fully funds the manufacture, delivery and launch of the Company’s Globalstar 2.0 second-generation network and ground facilities, plus certain long-lead items connected with the accelerated delivery of additional second-generation spare satellites, and provides the company with working capital needed for current and future operations.
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Expert review of architecture and design during the early development phase of a telematics device can save a company substantial time and money while maximizing market potential. The former CTO of Quake Global and lead architect of their market dominating satellite modem — Mark Jones — has formed Sancomm Inc. to provide precisely this service.
Prospective clients need to experience the value of telematics. Hard data can help prove the viability of a solution to those with vision; but many customers lack vision. Imagine the reaction a client will have when an attractive usable interface is placed in their hands. They can click, navigate and discover first-hand how telematics can improve their life. But unintuitive and unattractive user interface limits the effectiveness of this sales strategy.