COVINGTON, La., Feb. 24, 2014 (GLOBE NEWSWIRE) -- Today, Globalstar, Inc. (OTCQB:GSAT), a leading provider of mobile satellite services, has announced it has filed applications with both the NASDAQ Stock Market and the New York Stock Exchange to list its common stock for trading. The Company intends to select one of these two markets based upon their respective listing application process and review in order to ensure that its common stock is listed for trading in a timely fashion.
Globalstar believes it currently meets all eligibility requirements of NYSE MKT. With the exception of the duration period above the minimum closing share price requirement, Globalstar believes it currently meets all other eligibility requirements of the NASDAQ Capital Market. Both NYSE and NASDAQ are initiating reviews of the Company's listing eligibility.
"We are pleased to be in a position to list on one of these two prestigious exchanges in the near future," said Jay Monroe, Chairman and CEO of Globalstar. "Our stockholders want enhanced trading liquidity and market visibility, and we look forward to completing this process as soon as possible in order to meet their requests."
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company's 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 and personal tracking, data monitoring and SCADA applications. Note that all SPOT products described in this or any Globalstar press release are the products of Spot LLC, which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia. SPOT Connect is a trademark of Spot LLC.
For more information regarding Globalstar, please visit Globalstar.com.
Safe Harbor Language for Globalstar Releases
This press release contains certain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Forward-looking statements, such as the statements regarding our expectations with respect to actions by the FCC, future increases in our revenue and profitability and other statements contained in this release regarding matters that are not historical facts, involve predictions.
Any forward-looking statements made in this press release are accurate as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and we undertake no obligation to update any such statements. Additional information on factors that could influence our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
CONTACT: Investor Contact Information:
Phone: (985) 335-1538
Source: Globalstar, Inc.