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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
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GLOBALSTAR TELECOMMUNICATIONS LIMITED
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(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Islands of Bermuda 0-25456 13-3795510
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
</TABLE>
Cedar House, 41 Cedar Avenue, Hamilton, Bermuda HM 12
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(441) 295-2244
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GLOBALSTAR, L.P.
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(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 333-25461 13-3759824
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
</TABLE>
3200 Zanker Road, San Jose, California 95134
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(408)933-4000
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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.
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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
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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
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Name: Avi Katz
Title: Vice President and
Secretary
Date: September 18, 2000
