Item 8.01 Other Events.

Repayment of First Lien Credit Facility

On November 8, 2021 Globalstar, Inc. ("Globalstar" or the "Company") repaid all outstanding amounts under its First Lien Credit Facility with a syndicate of bank lenders, including BNP Paribas, Société Générale, Natixis, Crédit Agricole Corporate and Investment Bank and Crédit Industriel et Commercial, such repayment being in the amount of approximately $62.0 million (the "Repayment"). Upon making the Repayment, the First Lien Credit Facility was terminated in accordance with its terms. The Repayment was made using approximately $51.1 million from the debt service reserve account the Company maintained, with the balance coming from cash on hand. In connection with the Repayment, the Company expects to receive a refund of approximately $2.5 million in insurance premiums paid pursuant to the First Lien Credit Facility.

Under the terms of the Company's Second Lien Term Loan Facility with Thermo, an affiliate of EchoStar and certain other unaffiliated lenders, upon termination of the First Lien Credit Facility and the release of the related liens, the liens securing the Company's obligations under the Second Lien Term Loan Facility automatically became secured first liens. As of September 30, 2021, the outstanding principal amount of loans under the Second Lien Term Loan Facility was approximately $255.0 million.

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