Apple investment in Globalstar
Apple agreed to fund Globalstar's next constellation and take 20% of the entity that will own it; 85% of capacity is reserved for Apple.
- Company
- Globalstar
- Type
- Strategic investment
- Status
- Announced
- Date
- 29 Oct 2024
- Value
- US$400m
- Value basis
- US$400m for a 20% equity interest in a new Globalstar SPE; the up to US$1.1bn infrastructure prepayment is in the Financings register
- Region
- US
- Segment
- Satellite operators
Parties
- Apple investor
- Globalstar issuer
Key terms
- Equity
- US$400m for 20%
- Prepayments
- up to US$1.1bn
- Capacity
- 85% for Apple
Sources
- Globalstar 8-K: agreements with Apple sec.gov · 29 Oct 2024
- Via Satellite: Apple invests $1.5B in Globalstar satellitetoday.com · 31 Oct 2024
- Advanced Television: Apple puts $1.5bn into Globalstar advanced-television.com · 4 Nov 2024
Record ORB-INV-2024-0011. Investments are kept apart from the financings register and never counted in debt totals.
