Globalstar, Inc. announced its intent to transfer its common stock listing to the Nasdaq Global Select Market in the first quarter of 2025. This strategic decision aims to enhance the company's visibility and attract a more diverse and larger set of institutional investors.
In conjunction with the planned uplisting, Globalstar's Board of Directors authorized a reverse stock split of its common stock, expected to occur in the first quarter of 2025. The specific ratio for the split will be determined closer to the effective date.
The reverse stock split is intended to align trading fundamentals with industry peers and improve overall liquidity. Globalstar believes these changes will unlock value for its shareholders over the near and long-term by making the stock more appealing to a broader investor base.
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