Mentioned:
GSAT -1.39% MDA -6.72% RKLB -8.21%

Globalstar is preparing to deploy more satellites in space. And they’re partnering up with SpaceX to do it.

What’s happening:

  • Globalstar (NASDAQ: GSAT) has struck a new deal with Elon Musk’s SpaceX to launch nine replacement satellites into orbit

Why it matters:‍

  • This is the largest satellite launch deal that Globalstar has ever done with SpaceX

Going deeper:‍

  • MDA Space (TSX: MDA) will manufacture the satellites and Rocket Lab (NASDAQ: RKLB) will provide the satellite buses as part of the new SpaceX launch
  • Globalstar previously made waves when they landed $1.7B USD cash injection from Apple (NASDAQ: AAPL) to accelerate the development of a new large scale commercial satellite constellation to expand connectivity for iPhone users in parts of the world where they is no cellular coverage

‍