Globalstar on NASDAQ

In a major effort to fund the launch of its second generation satellites and network upgrade (which may cost about $1 billion in the next 8 years), Globalstar, Inc. (Milpitas, California) issued 7.5 million shares in an IPO on the NASDAQ stock exchange. The stock was up 3 percent to $17.52 per share after the first day of trading on Thursday, November 2. Good luck, Globalstar!