NASDAQ is delisting Globalstar due to the company’s common stock trading below the minimum bid price of $1.00 in excess of the period permitted by NASDAQ listing rules. Globalstar received an extended period for compliance and a deferred delisting when first notified in September 2011, but further extension was declined this year.

“The board of directors carefully deliberated, over an extended period of time, the advantages and disadvantages of effecting a reverse stock split in order to seek to regain compliance with NASDAQ’s listing qualifications, and decided that doing so was not in the Company’s or its stockholders’ best interests at this time,” Globalstar Chairman and CEO Jay Monroe said in a statement. “We remain keenly focused on the execution of our satellite communications and spectrum strategies to drive stockholder value, including completing our fourth Second-Generation satellite launch. We fully intend to seek listing on an accredited exchange as soon as it is feasible to do so."