10:07 AM EDT, 08/19/2024 (MT Newswires) -- Globalstar ( GSAT ) said Monday the US Federal Communications Commission has approved the company's application to extend the term authorization for its HIBLEO-4 satellite constellation by 15 more years and operate up to 26 replacement satellites.

Globalstar ( GSAT ) said the regulator also reaffirmed previous decisions related to the company's operations in its licensed portion of the Big LEO Band.

Globalstar ( GSAT ) shares were rising 3.6% in recent trading.

Price: 1.30, Change: +0.04, Percent Change: +3.60