Satellite services provider Globalstar says Apple committed $1.1B to expand satellite service capacity and $400M to buy a 20% equity stake; GSAT closes up 31%
Indicate by check mark whether the registrant is an emerging growth company as defined … Mudit Dube / NewsBytes : Apple invests over $1 billion to enhance satellite messaging capabilities CGTN : Apple invests $1.5 billion in Globalstar to boost satellite services David Lumb / CNET : Apple Will Invest $1.5B in Globalstar to Expand Satellite Services Jason Rainbow / SpaceNews : Globalstar soars on Apple's $1.5 billion satellite investment Jaures Yip / Business Insider : A satellite services company is up 31% after announcing Apple is taking a stake Michael Sheetz / CNBC : Apple commits $1.5 billion to Globalstar for expanded iPhone satellite services Jack Purcher / Patently Apple : After its first investment in Globalstar 2-years ago, Apple is set to invest $1.5 Billion more to expand iPhone communication services Christian Zibreg / How-To Geek : Apple Wants More Satellites and Ground Stations for iPhone Satellite SOS Usman Qureshi / iPhone in Canada Blog : Globalstar, Apple Ink $1.1 Billion Deal to Expand Satellite Services Worldwide Sebastian Moss / DatacenterDynamics : Apple takes 20 percent stake in Globalstar, commits $1.1bn for iPhone satellite services Ali Salman / Wccftech : Apple Amends Its Deal With Globalstar To Bolster Growing Satellite Services, Commits To Pay $1.1 Billion To Expand The Capacity Mike Dano / Light Reading : Apple's satellite ambitions get $1.1B bigger Jonny Evans / Computerworld : Apple to expand its satellite services with Globalstar TelecomTV : What's up with... Apple & Globalstar, Nokia, Huawei Thomas Maxwell / Gizmodo : Apple Is Diving Deeper Into Satellites Craig Donaldson / Pocket-lint : Apple just spent over a billion dollars to boost its satellite services efforts Ed Hardy / Cult of Mac : Apple pours an additional $1.1 billion into satellite messaging Michael Kan / PCMag : Apple to Bolster iPhone Satellite Services With $1 Billion Investment Aleksandar Anastasov / PhoneArena : Apple and GlobalStar partner to expand satellite connectivity for iPhones Eric Slivka / MacRumors : Apple Expands Globalstar Relationship to Support Growing Satellite Services Michail / GSMArena.com : Apple invests $1.1b in satellite services provider Globalstar Elsa Ohlen / Barron's Online : Globalstar Stock Jumps 58% After Agreement With Apple William Gallagher / AppleInsider : Apple makes $1.1 billion commitment to expand satellite messaging Tyler Durden / ZeroHedge News : Globalstar Shares Erupt After Apple Expands Satellite Services Deal MacDailyNews : Apple to invest up to $1.5 billion more in Globalstar for satellite coverage expansion Rich Brome / Phone Scoop : Apple Spending $1.5 Billion to Expand Satellite Service Josh White / Sharecast : Apple to expand iPhone satellite capability with £1.5bn commitment X: Tim Farrar / @tmfassociates : Globalstar files 8-K with details of expanded Apple agreement for more satellites: $1.1B prepay plus $400M equity investment in special purpose entity, revenue will more than double after launch https://investors.globalstar.com/ ... Tim Farrar / @tmfassociates : Or will Apple want to stay within the parameters of the recent FCC authorization for 26 replacements and simply upgrade the existing (and perhaps even the currently ordered) satellites to add more power and capacity? Tren Griffin / @trengriffin : Apple will make an infrastructure prepayment of up to $1.1 billion, which Globalstar will use, together with $400 million from the sale of Class B Units to pay for the Extended MSS Network (including, but not limited to, construction and launch costs) and to repay some notes. [image] Tren Griffin / @trengriffin : “A representative from Globalstar confirmed to Via Satellite that the investment funds a new constellation — separate from the constellation upgrade in progress with MDA Space... Globalstar expects its revenue will more than double from 2024 levels when the expanded satellite services are operational. This year, Globalstar is projecting between $235 million and $250 million in revenue.” Tim Farrar / @tmfassociates : $232M of this will go to pay down existing debt, but given that refresh budget for 17 satellites was up to $500M, the remaining $1.3B may be sufficient for a further 40-80 satellites depending on capability Tim Farrar / @tmfassociates : The interesting question is how this will be handled at FCC after the August approval. Will it require a new Big LEO processing round as SpaceX has requested? Might these satellites even use different spectrum? https://investors.globalstar.com/ ... Benjamin Mayo / @bzamayo : Apple keeps spending $$$ on satellite while demurring on how it plans to charge customers for the service https://9to5mac.com/... Forums: r/apple : Apple relies on GlobalStar satellites for places where there's no cell phone signal - The Verge r/RKLB : It's Apple isn't it? r/teslainvestorsclub : Is it just me or is Apple continuously trying to copy anything Elon has his hands in? [Apple expands iPhone satellite services deal, commits $1.1bn to expand capacity] r/GSAT : Apple expands iPhone satellite services deal, commits $1.1bn to expand capacity - 9to5Mac