| Globalstar advance launch plans2011.07.04 |
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| Globalstar advance launch plans (June 30 2011, DigitalShip) Globalstar has announced that its delayed second launch of six new satellites has now been scheduled for July 11, 2011 Globalstar’s upcoming launch is set to take place at the Baikonur Cosmodrome in Kazakhstan. Engineers and technicians from launch services provider Arianespace and satellite manufacturer Thales Alenia Space have completed fuelling of the satellites and all six spacecraft have now been mated to the upper stage dispenser of the Soyuz launch vehicle. On October 19, 2010 a Soyuz booster was used in the successful first launch of six new Globalstar second-generation satellites, and was also utilised on eight previous occasions to launch Globalstar's first generation satellites. Later this year Globalstar says that it plans to conduct two additional launches of six satellites per launch also using the Soyuz. The Globalstar second-generation satellite constellation is designed to last for 15 years, twice the lifespan of Globalstar's first generation satellites. News of the launch date followed closely after Globalstar reported that it had raised a significant amount of new capital through the completion of a private placement with a selection of institutional investors, including Thermo Funding Company LLC. This placement has allowed the company to raise initial gross proceeds of $38 million (before fees and other expenses). Additionally, investors have the option to invest up to an incremental $12 million over an approximate three month period on the same principal terms, which could mean a total of $50 million being invested in Globalstar. |
