April 11, 2018 / 8:11 PM / 12 days ago

BRIEF-Mudrick Capital Management Reports 5.6 Pct Stake In Globalstar, Says Stock Is "Deeply Undervalued"

April 11 (Reuters) - Mudrick Capital Management Lp:

* MUDRICK CAPITAL MANAGEMENT LP SAYS ON APRIL 11, DELIVERED LETTER TO GLOBALSTAR’S BOARD TO EXPRESS BELIEF THAT GLOBALSTAR’S STOCK IS “DEEPLY UNDERVALUED”

* MUDRICK CAPITAL MANAGEMENT LP REPORTS 5.6 PCT STAKE IN GLOBALSTAR INC AS OF APRIL 11 - SEC FILING

* MUDRICK CAPITAL MANAGEMENT LP SAYS PURCHASED GLOBALSTAR INC SHARES BASED ON BELIEF THAT SHARES, WHEN PURCHASED, WERE “UNDERVALUED”

* MUDRICK CAPITAL - STATED WAS WILLING TO LEND GLOBALSTAR $150 MLN IN NON-CONVERTIBLE FINANCING INSTRUMENT TO HELP ADDRESS CAPITAL NEEDS THROUGH 2019

* MUDRICK CAPITAL MANAGEMENT SAYS IT WOULD NOT SUPPORT ANY OVERTURE BY GLOBALSTAR TO SEEK ADDITIONAL FINANCING FROM CONTROLLING SHAREHOLDER THERMO COMPANIES Source text: (bit.ly/2qoBAEy) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below