Attached files
| file | filename |
|---|---|
| EX-99.1 - Globalstar, Inc. | v199525_ex99-1.htm |
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 1934
Date of
Report (Date of earliest event reported): October 18, 2010
GLOBALSTAR,
INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-33117
|
41-2116508
|
|
(State
or Other Jurisdiction of Incorporation
|
(Commission
File Number)
|
(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 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
3.01.
|
Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard;
Transfer of Listing.
|
As
previously reported, on September 21, 2010, Kenneth E. Jones notified
Globalstar, Inc. that he was resigning from the Board of Directors (the "Board")
effective October 1, 2010. Mr. Jones had been a member of the Board's Audit
Committee. As a result of Mr. Jones's resignation, Globalstar received a notice
from Nasdaq on October 18, 2010 stating that the company was deficient in
meeting the requirement of Listing Rule 5605, which requires that the audit
committee of a Nasdaq listed company be comprised of at least three independent
directors, subject to a cure period. The Board intends to appoint a
new independent director to the Board and the Audit Committee prior to the
expiration of the cure period, which is the earlier of the company’s next annual
stockholders meeting or October 1, 2011.
|
Item
8.01
|
Other
Information.
|
Initial
Second-Generation Satellite Launch
On October 19, 2010, six new
second-generation Globalstar satellites were launched successfully from the
Baikonur Cosmodrome in Kazakhstan, using the Soyuz launch
vehicle. Globalstar has initiated satellite in-orbit testing, and the
performance of all six spacecraft is nominal at this time. Additional
information concerning the launch is included in the press release filed as
Exhibit 99.1.
|
Item
9.01
|
Financial
Statements and
Exhibits.
|
(d)
Exhibits.
99.1 Press
release dated October 20, 2010
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/ Peter J. Dalton | ||
| Peter J. Dalton | |||
| Chief Executive Officer | |||
Date:
October 20, 2010