Key Highlights

● The Hart-Scott-Rodino antitrust Waiting Period for Amazon's proposed Acquisition expired on July 17, 2026.

● Second-quarter 2026 Revenue was $64.8 million, with service revenue down 5% to $60.0 million.

● Commercial IoT equipment sales rose 21% to $4.8 million, and trailing twelve-month IoT activations grew more than 20%.

● The transaction, valued at $90 per share in cash or stock, remains subject to FCC and international approvals, with closing expected in 2027.

Globalstar, Inc., listed on Nasdaq as GSAT, is drawing attention on Monday 5 October 2026 because its proposed acquisition by Amazon is moving through regulatory review while the satellite operator continues to report on its own operations. The deal, announced in April 2026 at $90 per share in cash or stock according to news coverage, has changed how the shares are typically analysed, with Merger timing and conditions mattering alongside operating results.

Latest Company Context

Globalstar's second-quarter 2026 report, released in August, showed revenue of $64.8 million and a net loss of $26.5 million, with Adjusted EBITDA of $26.0 million. Service revenue fell 5% to $60.0 million, while equipment sales rose 21% to $4.8 million, led by Commercial IoT devices. Year-to-date revenue was $134.8 million with a net loss of $41.4 million. Cash was $409.8 million and Debt $423.7 million.

On the merger, the company stated that the Hart-Scott-Rodino waiting period expired on 17 July 2026. Closing remains subject to Federal Communications Commission and international regulatory approvals, and the transaction is expected to close in 2027, contingent on specified milestones tied to replacement satellites and other conditions. Because of the pending merger, Globalstar suspended Earnings conference calls and no longer updates forward-looking guidance.

Key Business and index Drivers

The first driver is deal progress. Merger-arbitrage dynamics generally mean that the share price tracks the offer value and perceived probability and timing of completion. A smooth regulatory path could narrow any gap to the offer; delays or conditions could widen it. These are scenarios, not forecasts.

The second driver is operations. Commercial IoT activations reached record levels, with more than 20% growth in trailing twelve-month gross activations, and ground network expansion is under way on several continents. Offsetting this, service revenue declined and the company posted an operating loss as costs rose.

The third driver is indexing. Coverage of the June 2026 Russell reconstitution reported that Globalstar moved out of the Russell 2000 family and into the Russell 1000 and Russell Midcap indices. This is from a secondary source (market commentary) and should be checked against FTSE Russell's constituent lists. Index changes can influence passive fund holdings and trading flows, though they do not alter the terms of the Amazon offer.

What Investors Should Watch

Market participants may follow several items. Regulatory milestones, particularly FCC decisions and any international approvals, are the most direct determinants of timing. Progress on the replacement satellites that the closing conditions reference is also relevant, along with any amendments to the merger agreement or the election mechanics for cash or stock.

Further quarterly filings should continue to show subscriber, IoT and cash trends even without conference calls. Third-quarter figures may indicate whether service revenue stabilises. Since guidance has been suspended, readers have fewer management forward-looking indicators, and analyst estimates may be less informative than usual.

In a constructive scenario, approvals arrive on schedule and the transaction closes in 2027 as described. In a less favourable scenario, regulatory conditions, launch delays or other closing hurdles could extend the timeline or alter the outcome. Neither can be predicted with certainty.

Operating Results Take a Back Seat to Deal Timing

Globalstar is currently best understood as a company in transition: its stand-alone results show IoT growth but a net loss and declining service revenue, while the Amazon agreement, with its HSR period expired and FCC review pending, frames the outlook. Confirmed facts are the quarterly figures and regulatory status described by the company; the 2027 closing is an expectation, not a certainty.