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GSAT > SEC Filings for GSAT > Form 8-K on 14-May-2013All Recent SEC Filings

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Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial

Item 1.01. Entry into a Material Definitive Agreement.

Fifth Amendment to Forbearance Agreement Related to 5.75% Convertible Senior Notes due 2028

On May 13, 2013, Globalstar, Inc. (the "Company") entered into a fifth amendment (the "Amendment") to the April 1, 2013 forbearance agreement with certain beneficial owners and investment managers for beneficial owners (whom we refer to collectively as the "Forbearing Note Holders") of the Company's outstanding 5.75% Convertible Senior Notes due 2028 (the "Notes"). Pursuant to the amendment, the Forbearing Note Holders have agreed to extend the forbearance period through 11:59 P.M. (ET) on May 20, 2013.

Except as described above, all of the other terms of the agreement, as previously amended, remain unchanged. See the Company's Current Reports on Form 8-K filed on each of April 1, 2013, April 16, 2013, April 23, 2013, April 29, 2013 and May 7, 2013.

The Company can not give any assurance that an exchange transaction will be consummated by any particular date or at all.

Item 7.01. Regulation FD Disclosure.

On May 13, 2013, the Company issued a press release announcing that it had entered into the fifth amendment to the forbearance agreement described in this report. The press release is furnished as Exhibit 99.1 to this Report.

The information in Exhibit 99.1 and in this Item shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.

Item. 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 Press Release dated May 13, 2013.

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