IRDM News & Events

William Blair contends that Amazon's (AMZN) proposed acquisition of GlobalStar (GSAT) and agreement with Apple (AAPL) positions the company to "become a third major player" in the direct-to-device market that is led by SpaceX and AST SpaceMobile (ASTS). In addition, the proposed purchase price for GlobalStar increased the value of Iridium's (IRDM) and ViaSat's (VSAT) spectrum assets, argues the analyst, who notes that the $11B purchase price is higher than the previously reported $10B.

Iridium (IRDM) shares are up $3.13, or 9%, to $38.37 while shares of AST SpaceMobile (ASTS) are up $3.06, or 3%, to $102.03 in pre-market trading after Amazon (AMZN) announced a definitive merger agreement to acquire and Globalstar (GSAT).

Iridium is up 10.8%, or $3.09 to $31.61.