Shares of Globalstar Inc. charged 6.9% higher in morning trading Wednesday, after the telecommunications connectivity company announced a financing deal that...
Shares of Globalstar Inc.
charged 6.9% higher in morning trading Wednesday, after the telecommunications connectivity company announced a financing deal that didn’t include equity. The stock’s gain comes a day after it rose 2.3%, to bounce off Monday’s 13-month closing low of 99 cents. The company said it has entered into a purchase agreement with an affiliate of Värde Partners for the sale of $200 million in 13% senior notes due 2029, which are “non-convertible and therefore do not result in any equity dilution.
charged 6.9% higher in morning trading Wednesday, after the telecommunications connectivity company announced a financing deal that didn’t include equity. The stock’s gain comes a day after it rose 2.3%, to bounce off Monday’s 13-month closing low of 99 cents. The company said it has entered into a purchase agreement with an affiliate of Värde Partners for the sale of $200 million in 13% senior notes due 2029, which are “non-convertible and therefore do not result in any equity dilution.
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