Globalstar wants $100M from IPO

Is the market ready for an IPO from the mobile satellite services (MSS) industry? Is the crash-and-burn of the entire MSS industry in the late 1990s a distant memory? Globalstar hopes so. The company has filed with the SEC for a $100 million IPO to fund the launch of its second-generation satellites that are designed to extend service coverage and provide higher speed data rates. MSS providers including Globalstar have new confidence now that the FCC has allowed them to implement what are called ancillary terrestrial component (ATC) services. ATC allows satellite operators to develop a complementary terrestrial service that is designed to decrease service costs and expand services into buildings, which was historically one of the biggest drawbacks of satellite services. We'll see if investors bite.

For more about Globalstar's planned IPO:
- take a look at this article from Red Herring

Suggested Articles

The C-Band Alliance (CBA) now says the U.S. could see billions of dollars going to the U.S. Treasury if its auction of C-band spectrum gets approved.

T-Mobile appears to be working to gain favor in NY, promising more jobs in new tax revenue from a second new customer experience center in the state.

Google announced it’s bringing RCS chat services to Android users in the U.S.