NextNav to acquire additional spectrum licenses for up to $50M

NextNav has signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band 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. Per the terms of the agreement, $2.5 million of the purchase price will be paid in cash due within 30 days of the court granting the receiver authority. The remainder will be paid for with NextNav common stock based on the achievement of certain milestones, final license transfer and various regulatory approvals. The transaction is subject to Court as well as regulatory approvals, including by the Federal Communications Commission.