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Globalstar files $700 mln mixed shelf offering

Wed Mar 19, 2008 6:29am EDT

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March 19 (Reuters) - Globalstar Inc (GSAT.O), a provider of mobile voice and data communications services via satellite, said on Wednesday it may periodically sell up to $700 million in debt securities, common and preferred stock, warrants and depositary shares.

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The company said it intends to use a part of the net proceeds to meet capital expenditures relating to procuring and deploying second-generation satellite constellation and related ground facilities.

Under a shelf registration filed with the U.S. Securities and Exchange Commission, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale. (Reporting by Bijoy Koyitty in Bangalore; Editing by Amitha Rajan) ((bijoy.koyitty@reuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: bijoy.koyitty.reuters.com@reuters.net))

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