[SatNews] Globalstar, Inc. announced that the New York Stock Exchange (NYSE MKT) has approved its common shares for trading, which will commence on Monday, April 21, 2014.
The Company will be listed on the NYSE MKT under the ticker "GSAT" and will concurrently withdraw its shares from the OTCQB. The Company is pleased to announce that the NYSE has invited Globalstar's leadership team to ring the NYSE Opening Bell at 9:30 a.m. EDT on the first day of trading.
"Trading on the New York Stock Exchange represents yet another important milestone in Globalstar's resurgence and has been made possible by our many important accomplishments over the past twelve months," said Jay Monroe, Chairman and CEO of Globalstar. "Listing on the NYSE will enhance the Company's trading liquidity as well as its visibility, all to the benefit of our loyal stockholders who have stuck with us over the past many years. Do not think for a moment that we are finished or that we plan to rest. Quite frankly, we are just getting started and look forward to continuing our resurgence."
NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and leverages the NYSE's advanced and innovative market model to offer a premier venue for listing and trading the stocks of small companies. The venue utilizes the trading, connectivity and routing technologies of the NYSE platform and offers superior price discovery, superior liquidity and reduced trading volatility. Listed companies benefit from issuer-selected Designated Market Makers (DMM) that utilize world-class NYSE trading systems to discover and improve prices, dampen volatility, add liquidity and enhance value. In addition, NYSE MKT-listed companies gain access to the brand visibility and are eligible for the issuer services enjoyed by the NYSE Euronext community.
"We welcome Globalstar to the NYSE community and look forward to a strong partnership with the Company and its stockholders," said Scott Cutler, Executive Vice President and Head of Global Listings at NYSE Euronext. "Globalstar will join other high technology companies that benefit from NYSE's trusted and reliable platform."
The Globalstar infosite is located at http://www.globalstar.com/