fmac - FMAC STOCK NEWS

FirstMark Horizon Acquisition Corp. (FMAC) is urging stockholders to vote for its proposed business combination with Starry, Inc. and Starry Group Holdings. The plan includes a pro rata right for non-redeeming stockholders to receive a portion of 1,000,000 shares of Starry Group Holdings Class A common stock. Depending on redemption levels, the exchange ratio will fluctuate between 1.0242 and 1.2415, providing incremental value per share ranging from $0.24 to $2.42. The Special Meeting for stockholder voting is scheduled for February 3, 2022.

Starry, Inc. and FirstMark Horizon Acquisition Corp. (FMAC) announced the execution of Non-Redemption Agreements with two accredited investors, retaining approximately 2.4 million shares of FMAC Class A common stock. This agreement is part of FMAC's ongoing commitment to maintaining shareholder value and includes potential for further agreements with other investors. Starry aims to enhance broadband access utilizing licensed high-frequency spectrum, advocating for affordable connectivity.

Starry, Inc. partners with the Cambridge Housing Authority (CHA) to deliver its affordable broadband service, Starry Connect, to over 2,630 housing units in Cambridge. This initiative addresses the high cost of internet access, which can exceed $250 monthly. Starry Connect offers a $15 monthly rate for high-speed broadband with no data caps, long-term contracts, or credit checks. Residents can also utilize the Affordable Connectivity Program for further subsidy. This partnership marks Starry's eighth collaboration with public housing authorities, expanding affordable internet access across six markets.

Starry Inc. reported strong Q4 2021 results, with customer relationships increasing by 83.3% year-over-year to 63,230 and serviceable households rising 27.5% to 5.3 million. The penetration rate grew 43.7% to 1.19%. Additionally, Starry Connect expanded to over 55,990 units of public and affordable housing, marking an 87.6% increase. With an NPS score of 61, Starry continues to lead in customer satisfaction, setting a strong foundation for future growth.

Starry, a next-generation fixed wireless broadband provider, has appointed Rene Villegas as its new Chief Marketing Officer. Villegas, previously with Amazon, brings extensive marketing expertise to Starry, which is experiencing rapid growth as it prepares for its public offering through a business combination with FirstMark Horizon Acquisition Corp. (NYSE: FMAC). His appointment aims to enhance brand management and customer satisfaction, with a focus on innovative broadband technology and expanding access across communities.

Starry, Inc. CEO Chet Kanojia will host a virtual fireside chat on December 14, 2021, at 11:35 a.m. ET, during the Oppenheimer 5G Summit. This event will provide a business update as Starry aims to enhance connectivity using its innovative broadband technology. Previously, on October 7, 2021, Starry announced its merger with FirstMark Horizon Acquisition Corp. (NYSE: FMAC), paving the way for Starry's transition to a public company. An audio replay will be available for 120 days post-event on Starry's investor page.

Starry, Inc. has announced the deployment of its second-generation network technology in the 24 GHz spectrum, enhancing capacity and reducing costs. This includes new hardware, such as the Starry Titan base station and Starry Trident and Comet receivers for residential use, achieving cost reductions of 670% and 1000%, respectively. Starry's gigabit-capable technology significantly lowers deployment costs compared to fiber. The company is expanding its service to 40 million U.S. households, and it is publicly merging with FirstMark Horizon Acquisition Corp. (NYSE: FMAC) as of October 7, 2021.