Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 50.53

+4.7%

Nov 7 9:30 AM EST

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From: Geoff Goodfellow	9/9/2019 7:09:31 PM
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Ergen, EchoStar join Globalstar debt deal Charlie Ergen and his EchoStar (NASDAQ:SATS) firm have jumped in on Globalstar's (NYSEMKT:GSAT) debt refinancing as a strategic partner, The Wall Street Journal reports. Globalstar struck a deal to raise $195M to mitigate a cash crunch, and most of the capital is coming from EchoStar as well as a company controlled by Globalstar Chairman Jay Monroe, according to the report. That capital would pay off a $62M bridge loan Globalstar took out in June while it negotiated refinancing. Ergen is chairman of EchoStar as well as of satellite-TV operator Dish Network (NASDAQ:DISH). Globalstar is up 11.3% after hours. seekingalpha.com

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