The FCC is circulating the Globalstar (GSAT) Notice of Proposed Rulemaking. We expect FCC approval. If approved by the FCC, this spectrum could be used for long term evolution (LTE) services. Utilized for Wi-Fi, GSAT spectrum could be worth around $3 per share. The market for spectrum is consolidating. Here is GSAT.ob since the announced LEAP acquisition:
Disclosure: I am long LEAP.
Additional disclosure: Chris DeMuth Jr is a portfolio manager at Rangeley Capital, a partnership that invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events. In order to maximize total returns for our partners, we reserve the right to make investment decisions regarding any security without further notification except where such notification is required by law.