James Monroe to merge owned companies and Globalstar together to form new single entity

by | Apr 26, 2018 | Finance, Seradata News

Globalstar announced on 25 April, that it had signed a merger agreement with Thermo Acquisitions Inc., a private investment company controlled by Globalstar CEO James Monroe III. Included in the agreement is the transfer of ownership of FiberLight LLC – owner of a large fibre optic network covering Texas, the Bay area of Florida and Washington DC, from Thermo to Globalstar, as well as US$100m cash and additional shares in several other companies.

Current corporate logo of Globalstar Inc.

 

The deal is expected to complete in Q3 2018, and at completion Globalstar will become “Thermo Companies Inc.”. This single company will own an extensive set of assets from the Globalstar global satellite network, a spectrum management company to further the terrestrial use of S-band, FiberLight’s high-density fibre optic network and Thermo Investments investment portfolio. Following the merger’s completion James Monroe will hold majority ownership of the new entity, predicted to be between 83 – 87 per cent, of the company – an increase from the 58 per cent ownership of Globalstar enjoyed currently. This figure is dependant on several factors, including the Globalstar 20-day volume weighted average share price upon closure of the deal. 

The expected structure of the new Thermo Companies Inc. Courtesy of Globalstar

 

About Seradata

Seradata produces the renowned Seradata database. Trusted by over 100 of the world’s leading Space organisations, Seradata is a fully queryable database used for market analysis, failure/risk assessment, spectrum analysis and space situational awareness (SSA).

For more information go to https://www.seradata.com/product/

Related Articles

Categories

Archives

Tags

nasaspacexecoreviewsissesaArianespacevideochinaFalcon 9v1.2FT Block 525virgin galacticULAfalcon 9RoscosmosevaspacewalkDGAaviation weekInternational Space StationaressoyuzIGTRocket LabBlue OriginBeidouawardsStarlinkspaceSatellite broadcastingAirbus DSrussiaboeingmoonOneWebCargo Return VehicleISROmarsblogresearchspaceshiptwojaxaorionmarsimpactdelayhyperbolaEutelsatdemocratrocketlunarhypertextobamagoogle lunar prizelaunchVegaSESthales alenia spacetourismbarack obamaconstellationfiguresnorthspaceflightIntelsatnode 2fundedRaymond Lygo2009Lockheed MartinExpress MD-2Elon MuskAtlas Vromess2dassault aviationaviationLucy2008wk2sstlukradiosuborbitaltestmissiledocking portexplorationAriane 5 ECAVirgin OrbitinternetLong March 2D/2sts-122ElectronSLSChina Manned Space EngineeringAriane 5Northrop Grummanmissile defensenewspapercotsgalileospace tourismflight2010Long March 4CspaceportExpress AMU 1buildspace stationaltairsoyuz 2-1aProton Minternational astronautical congressshuttlespace shuttlescaled compositesIntelsat 23European Space AgencyLauncherOneCosmosnew yorkrulesAriane 6hanleybudgetatvVietnamshenzhoucongressMojaveboldennew shepardLong March 2CInmarsatOrbital ATKcnesiaclunar landerGuiana Space CenterkscApollolawsUS Air ForceSpace Systems/LoralUK Space AgencyLong March 4BKuaizhou 1AILSdarpaprotonTalulah RileyElectron KSFalcon 9v1.2 Block 5Vega CNorth KoreaeuAstriumSkylonpicturebaseusaastronautdragonlanderfiveeventTelesatSSLAprilSNC50thinterviewLong MarchSea LaunchfalconWednesdaycustomerlinkatlantissuccessor

Stay Informed with Seradata

Stay informed on the latest news, insights, and more from Seradata by signing up for our newsletter.