NextNav (NN) Rises As It Expands Spectrum Holdings With New Licensing Agreement

NextNav Inc. (NASDAQ: NN) is currently experiencing a notable surge in its performance on the US market, marking a significant 26.61% increase to $4.93 at the latest market check. This positive trajectory coincides with NextNav’s recent announcement of an agreement to acquire spectrum licenses.

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In a recent development, NextNav (NN) disclosed its agreement to procure spectrum licenses encompassing an additional 4 MHz within the lower 900 MHz band (902-928). This agreement, facilitated with Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation, reflects NextNav’s strategic intent to bolster its spectrum assets. The acquisition, valued at a total of up to $50 million, will be financed through a combination of cash and NextNav common stock.

With this acquisition, NextNav’s consolidated spectrum assets are poised to reach an impressive 3.5 billion MHz-PoPs in the low band spectrum domain. Notably, the newly acquired licenses align with NextNav’s existing spectrum holdings within the lower 900 MHz band, which augurs well for the company’s plans to enhance its Positioning, Navigation, and Timing (PNT) services in the future.

Under the terms of the agreement, a portion of the purchase price, amounting to $2.5 million, is set to be disbursed in cash within 30 days following the court’s authorization. Following the achievement of specific milestones, the final transfer of the license, and regulatory approvals, NextNav will settle the remaining sum via common stock. In order to complete this transaction, the Federal Communications Commission (FCC) must approve the transaction and conduct court proceedings.

NextNav is also preparing to release its financial performance for its fourth quarter and full year which ended on December 31, 2023, in parallel. After the closing of the market on Wednesday, March 13, 2024, these financial results will be disclosed. A conference call will also be conducted by NextNav at 5:00 PM ET on the same day to discuss the results and provide insight into its performance.

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