Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
___________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): June 3, 2010
GLOBALSTAR,
INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or Other Jurisdiction of Incorporation)
|
001-33117
(Commission
File
Number)
|
41-2116508
(IRS
Employer
Identification
No.)
|
| |
|
|
|
461
South Milpitas Blvd. Milpitas, California
|
|
95035
|
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (408) 933-4000
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
□ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
□ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
□ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
3.03 Material Modification to Rights of Security Holders.
On June 3, 2010, Globalstar, Inc.
entered into amendments with certain holders representing approximately 10% of
the outstanding warrants to purchase voting common stock issued in 2009 to
eliminate the cashless exercise option and to change the expiration of the
warrants from June 19, 2014 to June 8, 2010 in exchange for aggregate cash
consideration paid to the holders of approximately
$315,000. Globalstar expects these warrants to be exercised prior to
expiration. As a result of the amendment, Globalstar has reduced the
number of outstanding warrants that could be subject to any future anti-dilution
adjustments and accelerated receipt of proceeds from exercise of the warrants by
approximately four years.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
4.1 Form
of Amendment to Warrant to Purchase Common Stock
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
GLOBALSTAR, INC.
/s/ Fuad
Ahmad
Fuad Ahmad
Senior Vice President
and
Chief Financial Officer
Date: June 4,
2010