James Monroe III - 07 Dec 2023 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role
Director, 10%+ Owner
Signature
/s/ Arthur McMahon, III, attorney-in-fact for James Monroe III
Issuer symbol
GSAT
Transactions as of
07 Dec 2023
Net transactions value
$0
Form type
4
Filing time
08 Dec 2023, 08:39:44 UTC
Previous filing
08 Nov 2023
Next filing
04 Jan 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GSAT Common Stock Warrant (Right to Buy) Award +10,000,000 10,000,000 07 Dec 2023 Voting Common Stock 10,000,000 $2.00 Thermo Funding II F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described more fully in the Current Report on Form 8-K filed by Globalstar, Inc. (the "Company") on December 7, 2023, the Company issued to Thermo Funding II LLC ("Thermo") a warrant (the "Warrant") to purchase 10,000,000 shares of the Company's common stock as consideration for Thermo guaranteeing (the "Guaranty") certain obligations of the Company.
F2 5,000,000 Warrant shares became exercisable immediately upon grant. The remaining 5,000,000 Warrant shares will become exercisable in the event that Thermo advances aggregate funds of $25,000,000 or more to the Company or a permitted third party pursuant to the terms of the Guaranty.