{"id":84626,"date":"2011-06-22T21:45:13","date_gmt":"2011-06-22T13:45:13","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/globalstar-raises-38-million-to-support-new-constellation-costs\/"},"modified":"2011-06-22T21:45:13","modified_gmt":"2011-06-22T13:45:13","slug":"globalstar-raises-38-million-to-support-new-constellation-costs","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/globalstar-raises-38-million-to-support-new-constellation-costs\/","title":{"rendered":"Globalstar Raises $38 Million to Support New Constellation Costs"},"content":{"rendered":"<p>[06-22-11] <b>Globalstar<\/b> has completed a private placement with institutional investors to raise initial gross proceeds of $38 million before deducting fees and expenses, the operator announced June 21.<\/p>\n<p>&nbsp;&nbsp; &nbsp;In the terms of the transaction, Globalstar issued $38 million in 5 percent interest senior debt. Investors will receive warrants to purchase an aggregate of 15.2 million shares of common stock. Globalstar\u2019s financing plan also gives investors the option to invest up to an incremental $12 million during an approximate three-month period on the same principal terms.<br \/>\n&nbsp;&nbsp; &nbsp;Globalstar Executive Chairman Jay Monroe said the proceeds of this financing would be used to meet capital expenditure needs, including the procurement and deployment of its second-generation constellation.<br \/>\n&nbsp;&nbsp; &nbsp;\u201cAs we continue with final preparations for next month\u2019s launch of six new second-generation satellites, the investment associated with this capital raise once again demonstrates the continued confidence our investors have in Globalstar and our long-term future,\u201d Monroe said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[06-22-11] Globalstar has completed a private placement with institutional investors to raise initial gross proceeds of $38 million before deducting fees and expenses, the operator announced June 21. &nbsp;&nbsp; &nbsp;In the terms of the transaction, Globalstar issued $38 million in 5 percent interest senior debt. Investors will receive warrants to purchase an aggregate of 15.2 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-84626","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84626"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=84626"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84626\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}