8-K 1 y40566e8-k.txt CURRENT REPORT 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 18, 2000 --------------------- GLOBALSTAR TELECOMMUNICATIONS LIMITED ------------------------------------------------- (Exact name of registrant as specified in its charter) Islands of Bermuda 0-25456 13-3795510 ---------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation) Number
Cedar House, 41 Cedar Avenue, Hamilton, Bermuda HM 12 -------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (441) 295-2244 -------------------------------------- GLOBALSTAR, L.P. ----------------- (Exact name of registrant as specified in its charter) Delaware 333-25461 13-3759824 ----------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation) Number
3200 Zanker Road, San Jose, California 95134 ---------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (408)933-4000 ------------- 2 Item 5. Other Events. Globalstar Telecommunications Limited ("GTL") has entered into a purchase agreement with Bear, Stearns International Limited ("Bear Stearns"), under which Bear Stearns has agreed to purchase, subject to certain conditions and over several tranches, up to $105 million of shares of GTL common stock as set forth in the Prospectus Supplement and Purchase Agreement filed as exhibits hereto and incorporated by reference herein. GTL will use the proceeds from the sales to purchase partnership interests in Globalstar, L.P., which, in turn, will use the proceeds for general corporate purposes including capital expenditures, operations (including marketing and distribution of phones and services) and interest expense. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. Exhibit 1 Prospectus Supplement dated September 18, 2000 Exhibit 2 Purchase Agreement dated as of September 18, 2000 among Globalstar Telecommunications Limited, Globalstar, L.P. and Bear, Stearns International Limited. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GLOBALSTAR TELECOMMUNICATIONS LIMITED By: /s/ Richard J. Townsend --------------------------- Name: Richard J. Townsend Title: Vice President and Chief Financial Officer GLOBALSTAR, L.P. By: Loral/Qualcomm Satellite Services, L.P., its managing general partner By: Loral/Qualcomm Partnership, L.P., its general partner By: Loral General Partner, Inc., its general partner By: /s/ Avi Katz ---------------------------- Name: Avi Katz Title: Vice President and Secretary Date: September 18, 2000