Date:	--/--/-- --:--:--
Event Id:	E5KXQ45KC
Action Type:	ACQUISITION
Action Status:	ANNOUNCED
Acquirer Symbol:
Target Symbol:	GSAT
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	90
Price Per Share Currency:	USD
News References:	https://www.businesswire.com/news/home/20260414237496/en/

Action Notes

Amazon.com, Inc and Globalstar, Inc announced that they have entered into a definitive merger agreement under which Amazon will acquire Globalstar, enabling Amazon Leo to add direct-to-device (D2D) services to its low Earth orbit satellite network and extend cellular coverage to customers beyond the reach of terrestrial networks. In addition, Amazon and Apple announced an agreement for Amazon Leo to power satellite services for iPhone and Apple Watch1, including Emergency SOS via satellite. The new capabilities are part of Amazon's long-term vision for space-based connectivity, and Amazon plans to work with mobile network operators (MNOs) and additional partners to deliver on that vision and extend reliable, high-speed connectivity to customers, no matter where they are in the world. Under the terms of the merger agreement, prior to closing, Globalstar stockholders will elect to receive for each share of Globalstar common stock they own either (i) $90.00 in cash or (ii) 0.3210 shares of Amazon common stock with a value capped at $90.00 per share. This consideration is subject to a proration mechanism that caps aggregate cash elections to a maximum of 40% of total Globalstar shares, and automatically converts excess cash consideration into stock consideration on a pro rata basis. The total transaction consideration is also subject to a downward adjustment of a maximum $110 million in the event Globalstar does not achieve certain operational milestones. Globalstar stockholders holding approximately 58% of the combined voting power of the outstanding shares of Globalstar common stock have approved the transaction by written consent. The transaction is expected to close in 2027, subject to the satisfaction of certain closing conditions, including receipt of regulatory approvals and the achievement by Globalstar of certain HIBLEO-4 replacement satellite milestones.