Archive for June, 2011
With todays successful launch of the Soyuz Progress M-11M from Baiknour. (ROSCOSMOS) The Russian Federal Space Agency’s web site now shows the next scheduled launch being July 11, 2011, Soyuz-2.1a/Fregat Globalstar-2. Orbitrax has been reporting the July 11th launch date as the “unofficial” launch date for several weeks
Entry into a Material Definitive Agreement, Creation of a Direct Financial Oblig
Item 1.01 Entry into Material Definitive Agreement.
On June 14, 2011, Globalstar, Inc. (the “Company”) entered into a Third Supplemental Indenture ( the “Indenture”) relating to the sale and issuance by the Company to selected investors (the “Investors”) in a private transaction of up to $50 million in aggregate principal amount of the Company’s 5.0% Convertible Senior Unsecured Notes (the “Notes”) and warrants (the “Warrants”) to purchase up to 20 million shares of voting common stock of the Company (“Common Stock”) at an exercise price of $1.25 per share. The Notes are convertible into shares of Common Stock at an initial conversion price of $1.25 per share of Common Stock, subject to adjustment in the manner set forth in the Indenture. The Notes are guaranteed on a subordinated basis by substantially all of the Company’s domestic subsidiaries, on an unconditional joint and several basis, pursuant to a Guaranty Agreement (the “Guaranty”). The Warrants will be exercisable after stockholder approval is obtained until five years after the issuance. The Warrants have anti-dilution protection in the event of certain stock splits or extraordinary share distributions, and a reset of the exercise price on April 15, 2013 if the Company’s Common Stock is below the initial conversion and exercise price.
The Notes, the Guaranty and the Warrants (the “Securities”) are being sold pursuant to Subscription Agreements, dated June 14, 2011 and an addendum dated June 20, 2011 (the “Subscription Agreements”), with each of the Investors. The Notes and Warrants were issued separately at closing.
The Company has raised gross proceeds of $38 million, before deducting fees and other offering expenses. The Investors have a right to purchase up to $12 million of additional Notes and a corresponding number of Warrants by September 15, 2011 on the same terms.
| SEC 8K
Russian Federal Space Agency, ROSCOSMOS, announced earlier this week, that the tanked Fregat has been delivered to Site 112 for integration with the dispenser assembly and then the Upper Composite Assembly.
Once integrated with the upper composite assembly, the completed assembly will await transport to the MIK 40 Integration Facility near Site 31 for integration to the rest of the Soyuz 2.1A launcher.
Launch is still “unofficially expected on July 11th.
New SXL1 Asset Tracker adds new form factor over the existing SX1 Asset Tracker which was originally developed by Bozeman, MT based Orbit One Communications. The new SXL-1 measures 3.5″ x 3.5″ x 2″ as compared to the original SX-1 which measured ~7.25″ x 3.25″ x 1″, which is a 4% increase in volume. The SXL1 also offers what appears to be increased compatibility for external sensor inputs, etc. and continues using the Globalstar Simplex Data Network.
Several members of the original Orbit One Communications management team who sold Orbit One to Numerex in 2007, have recently re-emerged on the scene under the umbrella of Sypes Canyon Communications which recently certified (OET/Globalstar) a new “break-thru” Simplex Satellite Transmitter measuring just .5″ x .5″ x .28″ as reported earlier on Orbitrax. In addition, some of these former management members of Orbit One recently reached a settlement with Numerex regarding some of the terms of the original purchase of Orbit One Communications. So it will be no surprise to see the new Sypes Canyon “Zemo” modem show up in the next generation Numerex asset tracking devices.
Numerex targets the use of SX1 and SXL1 to the government marketplace.
You can view recent Case Studies involving various divisions of the DoD using the SX1 here.
All information below is sourced from public information available on Government Web Sites. Confidentiality for the below items was not requested at the time of filing.
By Sanjiv Ahuja – 06/01/11 02:25 PM ET
The irony of America’s entrepreneurial spirit is that today’s innovator too often becomes tomorrow’s obstructionist, using litigation and political influence to protect themselves from the same competitive forces that first brought them success. A fight in today’s telecom industry is proving that to be as true in the information age as it was in the industrial age.
In the early 19th century, steamship companies revolutionized transportation. But less than half a century later they were using law suits and lobbying to block an emerging challenger – the railroad. Ultimately a combination of market forces and government policy focused on mutual development supported the creation of an integrated network that propelled U.S. economic growth.
Today’s revolution is the first ever use of satellite coverage integrated with ground-based technology to create nationwide access to high-speed wireless. This new broadband network will be a cornerstone of the foundation on which our future economy grows.
This expansion of American infrastructure is being led with private sector investment. Over the next eight years LightSquared will invest $14 billion of private capital in developing this network which will support over 15,000 jobs in each of the five years of the buildout.
Once complete it will increase capacity, competition and choice in the wireless industry and provide much-needed high-speed broadband access to consumers, businesses, healthcare facilities and tribal communities throughout rural America. It will also meet critical public sector needs by supporting seamless communications in times of crises when existing networks may not function properly.
Unfortunately the development of this new network is being frustrated by interests trying to close the door of innovation behind themselves. Unless a cooperative path on development can be maintained with the government playing the role of neutral arbiter we risk losing out on this vital technological advancement.
Thirty years ago the Global Positioning System (GPS) dramatically improved the way the world communicates by using broadband spectrum to signal precise location information. However some receivers manufactured to capture these signals also capture the new broadband network’s signals creating the possibility of interference. The GPS industry has used this issue as a basis for a campaign to block further development of this new network.
The Federal Communications Commission (FCC) has supported the development of the new 4G-LTE network integrated with satellite coverage as a way of significantly expanding broadband access across the country and has noted that the GPS industry knew about the network for almost a decade but did nothing to adapt its receivers. Still the FCC has tried to support the continued development of both systems in the hopes of seeing them coexist.
The FCC created a working group of representatives from the GPS industry, wireless operators and government agencies to test for possible interference issues and identify ways to resolve them. While both sides have participated in the FCC-led process, the GPS industry has continued to expand its campaign to block the new network altogether.
If the GPS industry succeeds in blocking the development of the first ever nationwide 4G-LTE network integrated with satellite coverage it will be a huge set back for innovative efforts to increase productivity and further grow our economy to create jobs. We have successfully integrated different technologies before and we can do it again.
Rather than using litigation and political influence to resolve technical challenges, we should once again rely on market forces in combination with pro-growth government policies. In this case that means both industries should commit themselves to work together with federal agencies under the FCC’s leadership to assess any potential problems and identify solutions.
In a highly competitive 21st century global economy we simply cannot afford to stifle innovation in the name of protecting the status quo. We must find ways of successfully integrating each technological revolution with the next.
Sanjiv Ahuja is the chairman and CEO of LightSquared.
Read the blog and comments here:
| The Hill
According to our sources in Russia. ST-23 that will deliver six Globalstar v2.0 satellites into Low Earth Obit is now tentatively (unofficially) set for July 11th. The September 20th date for Launch 3 would represent about 70 days between launches. These launch target dates are “unofficial”, and are subject to change.