Termo Funding Company LLC elected to make a further investment in the Company by purchasing an additional 1.5 million shares of the Company's common stock at a price of $16.17 per share, not on February 5, 2006.
In the Questions and Answers portion of the press release, the ninth line in the opening answer should read, "to provide commercially viable two-way communications services until we place into service our next-generation constellation," and not "to provide commercially viable two-way communications services until we place into service our next-generation constellation into service."
About Globalstar, Inc.
With over 250,000 activated satellite voice and data units, Globalstar offers high value, high quality satellite services to commercial and recreational users in more than 120 countries around the world. The Company's voice and data products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset tracking, data monitoring and SCADA applications. -- www.tsx.com
Posted February 8th, 2007 by ruzik_tuzik
