CDMA, Globalstar versus Iridium, Inmarsat, etc. Message Board

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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.

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To: Maurice Winn who wrote (132)	6/10/1997 8:22:00 PM
From: Richard F Uzelac	of 381

Reg S share offering???? Here's the newsfeed from Bizwire....Reg S shares are not good because they usually sell at a conversion discount which can result in dilution of shares and a "continuous" supply of sellers. I think Loral Space & Communications (LOR.NYSE) may be a safer way to invest in Globalstar given the latest tidbit of information. Globalstar's technology is impressive, their method of financing growth may be somewhat less impressive in my eyes. I have owned shares in a company which went through Reg S financing and the end result was not what I would consider to be in the best interests of the shareholders of the common stock. I would think given the popularity of the stock, a rights offering may prove to have been less dilutive to shareholders. Because of the following info, I've taken profits on my Dec 25 calls and am holding both the common and Jan 15 calls on Loral Space & Communications. Regards, Rick ---------- Begin ------------ Globalstar to sell $200,000,000 of senior notes in a rule 144A offering NEW YORK (June 9) BUSINESS WIRE -June 9, 1997--Globalstar, L.P. announced today that it plans to sell $200 million of senior notes due 2004 in an offering exempt from registration. Globalstar intends to apply the proceeds from the sale of the notes towards the development, construction and deployment of its worldwide, low-earth orbit satellite-based digital telecommunications system. The notes will be offered only to qualified institutional buyers pursuant to Rule 144A, to accredited institutional investors pursuant to Regulation D and to certain persons in offshore transactions pursuant to Regulation S under the Securities Act of 1933. The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of any offer to buy the securities. The common stock of Globalstar Telecommunications Limited, a Bermuda company, is listed on the NASDAQ National Market under the symbol "GSTRF." --30--kam/ny* CONTACT: Jeanette Clonan 212/338-5658 KEYWORD: NEW YORK INDUSTRY KEYWORD: TELECOMMUNICATIONS REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * * * * * * * * * *

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