In a strategic move, satellite communications provider Globalstar has announced its decision to transition from the New York Stock Exchange (NYSE) to the NASDAQ exchange. This shift comes alongside plans for a reverse stock split, aimed at broadening investor appeal. The company, which is backed by Apple, also revealed ambitious plans to launch a substantial number of satellites over the coming years, with specific milestones set by regulatory bodies. Additionally, Globalstar highlighted its growing subscriber base and revenue projections, signaling confidence in its future growth.

The transition to NASDAQ represents a significant milestone for Globalstar. The company believes that this move, coupled with a reverse stock split, will enhance the attractiveness of its shares to a wider range of investors. Trading on the NYSE will conclude on February 10th, with the first day of trading on NASDAQ scheduled for February 11th. This strategic repositioning aligns with Globalstar's broader goals, including its commitment to expanding its satellite fleet. The company has already filed plans with European regulators to deploy an impressive 3,080 satellites. To meet International Telecommunication Union (ITU) obligations, Globalstar must launch and deploy 10% of this planned fleet by either 2027 or 2029, depending on the specific filings.

Globalstar’s current operations underscore its significance in both emergency services and the Internet of Things (IoT). The company serves approximately 481,000 active devices through its IoT services and facilitated around 10,000 rescues last year. With a subscriber base of roughly 260,000 active users, Globalstar generated $44 million in revenue in 2023. Looking ahead, the company forecasts revenue guidance of $260-$285 million for 2025, with longer-term expectations pointing to revenues doubling to more than $495 million. These projections are bolstered by recent developments, such as the FCC's renewal of key Mobile Earth Terminal licenses for a 15-year period on December 3rd, 2024.

Beyond these operational and financial achievements, there has been speculation—though unconfirmed—that Apple might consider acquiring Globalstar. While this remains speculative, it highlights the company's potential value in the tech and satellite industries. As Globalstar embarks on this new chapter with NASDAQ and its expansive satellite deployment plans, it positions itself for sustained growth and innovation in the coming years.