(Bloomberg) -- A Globalstar Inc. investor is calling for the company to monetize its spectrum assets and possibly sell itself. 

Anson Funds, which said it’s a top-10 shareholder of Globalstar, said the company is an attractive acquisition target and should consider selling itself if the spectrum monetization plans don’t deliver satisfactory results, according to a presentation at the Bloomberg Activism Forum.

Globalstar’s partnership with Apple Inc. to power the emergency SOS function on iPhones via its satellites highlights significant strategic value, Sagar Gupta, portfolio manager at Anson Funds, said at the conference Monday. Apple owns 2.6% of Globalstar and has a right-of-first-refusal in the event of a takeover, Gupta said. 

Other partners such as Qualcomm Inc., where Globalstar Chief Executive Officer Paul Jacobs was chairman from 2009 to 2018, could be potential acquirers, too. Jacobs is also a board member of semiconductor designer Arm Holdings Plc., whose major backer SoftBank Group Corp. is also an investor in Globalstar.

A representative for Globalstar didn’t immediately respond to a request for comment.

Shares of Globalstar rose as much as 5.4% on Monday. They were trading down 1.4% to $1.45 at 2:43 p.m. in New York trading, giving the company a market value of $2.7 billion.

Jacobs, who started as CEO in August, has a performance-based pay package that will result in a payout of more than $400 million if the company’s shares reach $10. 

Anson Funds said that Globalstar could unlock value by leasing some of its spectrum assets to its corporate clients. 

Globalstar is controlled by Executive Chairman James Monroe, who owns about 58% of the company, according to a regulatory filing. Only two of the nine board members are elected by the remaining shareholders, Anson Funds said. Both of those directors sit on the strategic review committee. 

Toronto-based Anson Funds manages about $1.7 billion. It primarily invests in small and mid-cap companies in the US and Canada. 

(Updates with share change in sixth paragraph.)

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