The Firm represented Wachovia Capital Markets, LLC, J.P. Morgan Securities Inc. and Jefferies & Company, Inc. in connection with the initial public offering by Globalstar, Inc. of 7,500,000 shares of its common stock, which are listed on NASDAQ under the symbol "GSAT," for an aggregate price to the public of $127,500,000. The offering closed on November 7, 2006.
Globalstar, Inc. is a leading provider of mobile voice and data communications services via satellite. With over 200,000 activated satellite voice and data units, Globalstar, Inc. offers high value, high quality satellite services to commercial and recreational users in more than 120 countries around the world.
The Simpson Thacher team for the transaction included Ed Tolley, Ken Wallach, Ryan Bekkerus and Thad Glowacki (capital markets) and Mark Lab and Sean Cotton (Blue Sky), with invaluable assistance from paralegal Anne Dana.