Globalstar

Globalstar entered into the Terms Agreement in February 2020 with an unnamed potential customer under which that customer would pay for nonrecurring engineering services related to assessing a potential service using Globalstar assets and capacity.

Globalstar awarded a $327,000,000 contract to MDA to build 17 satellites intended to extend the life of Globalstar’s existing satellite constellation.

Globalstar expects to complete a senior secured financing by 2022-08-16 to provide sufficient proceeds for the construction and launch of the new satellites.

Rocket Lab signed a 2022-02-24 contract to provide satellite buses to MDA for a new generation of Globalstar communications satellites valued at $143,000,000.

MDA Ltd. recorded a contract award from Globalstar in early 2022 for a LEO satellite constellation valued at approximately $415,000,000.

On 2022-05-05, Globalstar signed a term sheet with a large, global customer to start deploying some of its spectrum for terrestrial use in the U.S. and beyond.

On 2022-02-24, Globalstar selected MDA and Rocket Lab to supply 17 satellites to replenish its constellation after a potential customer agreed to fund most of the $327,000,000 project.

Globalstar submitted ITU filings in December 2020 through Germany’s licensing authority registering plans for 3,080 satellites operating in low Earth orbit between 485 and 700 km.

At the end of March, Thaicom and Globalstar signed an agreement to collaborate to develop and operate ground station facilities at Thaicom’s Teleport Center in Pathumthani Province for Globalstar’s LEO satellite constellation.

Globalstar partnered with Globalsat Group to deploy a jointly developed IoT solution powered by Globalstar’s satellite network.

Apple partnered with Globalstar on 2022-09-07 to provide satellite messaging services for new iPhones and become Globalstar’s biggest customer.

Globalstar had been working under a Terms Agreement with an unnamed partner since 2020 that included milestones later tied to Apple.

Globalstar reported $124,300,000 in revenue in 2021 and expects revenue of between $185,000,000 and $230,000,000 in 2023 with a further 35% increase by 2026.

Apple will fund 95% of the costs of a new generation of satellites that Globalstar ordered in February from MDA Ltd. and Rocket Lab.

Apple is investing $450,000,000 to upgrade Globalstar’s network.

Iridium operates a 66-satellite constellation that cost $3,000,000,000 and is more advanced than Globalstar’s 24-satellite network.

Globalstar selected MDA and Rocket Lab in February 2022 to supply an initial 17 satellites for launch by the end of 2025 under a contract worth $327,000,000.

Apple is providing the $252,000,000 as a prepayment to use Globalstar's network to upgrade satellite services launched last year for Apple's latest iPhone.

Rocket Lab is developing a growing list of complete satellites that includes a $143,000,000 subcontract from MDA to lead the design and manufacture of 17 spacecraft buses for Globalstar’s new LEO satellites.

Rocket Lab is leading the design and manufacture of 17 spacecraft buses for Globalstar under a $143,000,000 subcontract from MDA.