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NextNav Announces Closing of $190 Million 5% Redeemable Senior Secured Convertible Notes Transaction

Mar 27, 2025•about 1 year ago

Contract Type

partnership

RestonInformation TechnologyMobileLocation Based ServicesNavigationTelecommunications

Description

NextNav Inc. successfully closed a private placement of $190 million of 5% redeemable senior secured convertible notes due 2028, with net proceeds of approximately $188.6 million. The company intends to use a portion of the net proceeds to redeem its $70 million aggregate principal amount of 10% Senior Secured Notes due 2026.

Company Information

Company

Telesaurus Holdings GB and Skybridge Spectrum Foundation

Location

11911 Freedom Drive, Suite 200

Reston, Virginia, United States

About

NextNav is a leader in next generation positioning, navigation and timing (PNT), enabling a whole new ecosystem of applications and services that rely upon 3D geolocation and PNT technology. Powered by low-band licensed spectrum, NextNav’s positioning and timing technologies deliver accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency and commercial use cases.

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