Globalstar's stock surged over 30% following Apple's announcement of a $1.7 billion investment to enhance satellite communications for iPhones. The deal includes a 20% equity stake for Apple and $1.1 billion in cash prepayments, alongside $232 million to help Globalstar refinance debt. This partnership aims to improve emergency services and basic texting capabilities via Globalstar's L-band satellite network, while Apple will retain 85% of the network's capacity for its use.
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