Meteosat 2/Apple
6/19/1981
Apple will invest $1,100,000,000 and take an equity stake to fund more satellites for Globalstar.
Apple’s total investment in Globalstar could reach $1,750,000,000.
Apple will take a 20 percent stake in Globalstar by buying 400,000 Class B shares for $400,000,000.
In an 2024-10-29 SEC filing, Globalstar committed to continue allocating 85 percent of its network capacity to Apple.
$232,000,000 of Apple’s $400,000,000 purchase of Class B shares will go to pay down Globalstar’s existing debt.
Apple will invest $1,100,000,000 in satellite communications company Globalstar alongside a further $400,000,000 for a 20% equity stake in the business.