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After raising the small sum of $400 million just three months ago, Globalstar, the Milpitas satellite telecom/data provider that competes with Iridium, hasfiled to raise $100 million in an IPO.
This is a company that came out bankruptcy not long ago. It has been profitable since shortly after its restructuring in April 2004. It has now getting about a $80 million in revenues a year, which is around the minimum that investment bankers are looking for these days before taking a company public.