Globalstar wants $100M from IPO
Is the market ready for an IPO from the mobile satellite services (MSS) industry? Is the crash-and-burn of the entire MSS industry in the late 1990s a distant memory? Globalstar hopes so. The company has filed with the SEC for a $100 million IPO to fund the launch of its second-generation satellites that are designed to extend service coverage and provide higher speed data rates. MSS providers including Globalstar have new confidence now that the FCC has allowed them to implement what are called ancillary terrestrial component (ATC) services. ATC allows satellite operators to develop a complementary terrestrial service that is designed to decrease service costs and expand services into buildings, which was historically one of the biggest drawbacks of satellite services. We'll see if investors bite.
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