LA PLATA, Maryland — Globalstar and its principal customer, Apple, have modified their 2024 agreement on financing Globalstar’s future 54-satellite constellation to account for Globalstar’s pending acquisition by Amazon, Globalstar said.
The new Prepayment Agreement, concluded after the Globalstar-Amazon transaction was announced April 14, will increase the maximum prepayment balance for Globalstar’s high-power infrastructure by 40%, to up to $1.58 billion, Globalstar said in a May 7 filing with the US Securities and Exchange Commission (SEC).
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