We are short shares of GSAT. Please click here to read full disclosures.
We are short shares of Globalstar, Inc. (GSAT), a company whose equity value, we believe is worthless, in contrast to their $4 billion-dollar market capitalization.
Sahm Adrangi, Chief Investment Officer of Kerrisdale Capital, will make a live presentation on the company at the AXA Event & Production Center at 787 7th Ave. between 51st/52nd Streets (*please note venue location change*) in New York City today at 11:30am ET. Please arrive 15 minutes in advance to sign in.
A webcast of the presentation can also be accessed here.
We have also set up a website at www.factsaboutglobalstar.com with our report and slides.
Globalstar’s proposed Terrestrial Low Power Service (“TLPS”) will never be commercially viable and its spectrum is worthless under any other use case. The company is heavily indebted, with a more than 20x debt-to-ebitda ratio, and is likely to violate financial covenants in the near future.