NextNav To Acquire Additional Lower 900 MHz Band Spectrum Licenses
MCLEAN, Va., March 11, 2024 (GLOBE NEWSWIRE) -- NextNav (Nasdaq: NN) (“NextNav” or the “Company”) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today announced it has signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band (902-928) from Telesaurus Holdings GB LLC, and Skybridge Spectrum Foundation. NextNav is acquiring the additional spectrum licenses for a total purchase price of up to $50 million, paid for through a combination of cash and NextNav common stock. The acquired licenses are in the same lower 900 MHz band as NextNav’s current licensed spectrum.
- MCLEAN, Va., March 11, 2024 (GLOBE NEWSWIRE) -- NextNav (Nasdaq: NN) (“NextNav” or the “Company”) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today announced it has signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band (902-928) from Telesaurus Holdings GB LLC, and Skybridge Spectrum Foundation.
- NextNav is acquiring the additional spectrum licenses for a total purchase price of up to $50 million, paid for through a combination of cash and NextNav common stock.
- The acquired licenses are in the same lower 900 MHz band as NextNav’s current licensed spectrum.
- “We are excited to add additional spectrum licenses to our portfolio and following the close of this significant transaction, NextNav’s combined assets will total 3.5 billion MHz-PoPs of low band spectrum,” stated NextNav CEO Mariam Sorond.