Globalstar notifies NYSE intention to voluntary delist its shares

Globalstar (GSAT) announced that, in connection with its previously-disclosed plans to consummate a reverse stock split of its common stock, par value $0.0001 per share, it notified the NYSE American that it intends to voluntarily delist the shares of its Common Stock from the NYSE American and transfer its listing to the Nasdaq Global Select Market, subject to the completion of the Reverse Stock Split. The Company believes that the voluntary delisting of its Common Stock from the NYSE American and transfer of its listing to Nasdaq, in combination with the Reverse Stock Split, could make the Common Stock more attractive to a broader range of investors. The last day of trading of the Common Stock on the NYSE American is expected to be on or around February 10. The Company expects its Common Stock will begin trading on the Nasdaq on or around February 11, subject to the completion of the Reverse Stock Split, under its current symbol, “GSAT.” Until the Company’s Common Stock begins trading on NASDAQ, the Company’s Common Stock will continue to trade on the NYSE American under its current symbol, “GSAT.”