By Josh Beckerman
Globalstar Inc. shares were recently up 10% to $2.30 as the company said it will be the satellite operator for certain Apple Inc. satellite-enabled services.
Prior to a trading halt, the stock was down 16% to $1.76.
In a securities filing, Globalstar discussed "transformational" transactions and said the agreement with Apple "materially enhances the device ecosystem for Band 53/n53."
Globalstar "expects that this will accelerate terrestrial deployments and monetization of the band."
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