Globalstar Inc. (GSAT), a leader in telecommunications infrastructure and technology, has announced its strategic plan to execute a reverse stock split of its common stock. As part of this plan, the company will voluntarily delist its shares from the NYSE American, transitioning them to the Nasdaq Global Select Market.
The company anticipates that this move, alongside the reverse stock split, will enhance the appeal of its common stock to a wider group of investors.
The final trading day of Globalstar’s common stock on the NYSE American is projected to be approximately February 10, 2025. Subsequently, the company expects that trading on the Nasdaq will commence on or around February 11, 2025, maintaining its current ticker symbol, "GSAT."
