Globalstar Announces Secondary Offering Of Voting Common Stock

COVINGTON, La., Dec. 07, 2017 (GLOBE NEWSWIRE) — Globalstar, Inc. (“Globalstar”) (NYSE American: GSAT), a leading provider of mobile satellite voice and data services to businesses, governments and consumers, today announced an offering of 38,000,000 shares of Globalstar’s voting common stock on an underwritten basis by FL Investment Holdings, LLC, a stockholder affiliated with Thermo Capital Partners, LLC (“Thermo”) and controlled by James Monroe III, the Chairman of the Board and Chief Executive Officer of Globalstar, to Morgan Stanley, as the underwriter in a registered offering of these shares (the “offering”). Thermo is selling these shares, representing approximately 4% of its holdings in Globalstar on a fully diluted basis, for tax planning purposes.

Morgan Stanley proposes to offer for sale the shares of voting common stock from time to time in one or more transactions on the NYSE American, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.

The offering is expected to close and settle on December 12, 2017, subject to customary closing conditions.Globalstar is not selling any shares of voting common stock in the offering and will not receive any of the proceeds of the offering.

A shelf registration statement (including a prospectus) relating to the offering of the voting common stock has previously been filed with the U.S. Securities and Exchange Commission (the “SEC”) and has become effective.The offering will be made only by means of a preliminary prospectus supplement related to the offering being filed today by the Company with the SEC. Before investing, interested parties should read the preliminary prospectus supplement and the accompanying prospectus and other documents filed with the SEC for information about Globalstar and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.Alternatively, a copy of the preliminary prospectus supplement and the accompanying prospectus, and the final prospectus supplement, when available, may be obtained from the underwriter at: Morgan Stanley & Co. LLC, Attn: Prospectus Department – 180 Varick Street, 2nd Floor, New York, NY 10014.