Davis Polk & Wardwell advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. as joint book-running managers of an SEC–registered offering by Globalstar, Inc. of $135 million aggregate principal amount of its 5.75% convertible senior notes due 2028. In connection with the offering, Globalstar also entered into a share-lending arrangement with an affiliate of Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Globalstar, Inc. is a leading provider of mobile voice and data communications services via satellite.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Nicholas R. Olmsted, Matthew E. King and Niki Fang, all of the Menlo Park office. Partners Ray Ibrahim and Mark M. Mendez and associates Rafal A. Nowak and Paul Anderson, all of the New York office, provided equity derivatives advice. Partner Michael Farber and associates Elyssa N. Friedland (not yet admitted) and Kay Ng, all of the New York office, provided tax advice. Counsel Betty Moy Huber and associate Brianne M. Lucyk, both of the New York office, provided advice as to environmental matters. Partner Jinsoo H. Kim and associate Margie M.C. Chan, both of the New York office, provided advice as to certain credit matters. Associate Sandra West of the Menlo Park office provided advice as to certain litigation matters. Karla K. Rogers and Michael Rhodes, both of the Menlo Park office, were the legal assistants for the transaction.