COVINGTON, La., Oct. 17, 2012 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), today announced that a NASDAQ Listing Qualifications Panel (the "Panel") has decided to maintain Globalstar's listing through the end of the year. Previously, Globalstar had reported that the Staff of The NASDAQ Stock Market LLC had notified the Company that its securities would be delisted from The NASDAQ Capital Market for failure to maintain a closing bid price of its common stock of at least $1.00 per share, pending the Company's right to appeal the Staff determination. Globalstar requested a hearing and presented evidence supporting a further extension through the end of the year. The Panel granted Globalstar's request, finding that Globalstar "has made a persuasive case that its difficulties in completing the launch of the constellation are behind it… and that the longer-term prospects for value to shareholders upon completion of the launch are substantial."
Globalstar Retains NASDAQ Listing
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