PARIS — Mobile satellite services provider Globalstar Inc. has agreed to seek a strategic investor or find some other source of cash as part of the latest agreement it reached with its creditors, led by the French government, Globalstar said July 7.
In exchange for loosening debt covenant deadlines, Globalstar committed to still-stricter spending limits, including limits on capital spending to monetize the company’s radio spectrum.
Globalstar in recent years has made more news trying to monetize its spectrum holdings for a terrestrial service than for its constellation . . .
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