NextNav Announces Closing of $190 Million of 5% Redeemable Senior Secured, Convertible Notes Transaction
NextNav (NASDAQ: NN), a leader in next-generation positioning, navigation, and timing (PNT) and 3D geolocation, has successfully closed a $190 million private placement of 5% redeemable senior secured convertible notes due 2028. The company received net proceeds of approximately $188.6 million after deducting fees and expenses.
The company plans to use part of these proceeds to redeem its existing $70 million aggregate principal amount of 10% Senior Secured Notes due 2026. The redemption will be executed at 101% of the principal amount plus any accrued and unpaid interest.
NextNav (NASDAQ: NN), un leader nella posizionamento, navigazione e temporizzazione (PNT) di nuova generazione e nella geolocalizzazione 3D, ha chiuso con successo un collocamento privato di 190 milioni di dollari di note convertibili senior garantite rimborsabili al 5% con scadenza nel 2028. L'azienda ha ricevuto proventi netti di circa 188,6 milioni di dollari dopo aver dedotto tasse e spese.
L'azienda prevede di utilizzare parte di questi proventi per rimborsare il suo attuale ammontare principale aggregato di 70 milioni di dollari di Note Senior Garantite al 10% con scadenza nel 2026. Il rimborso sarà effettuato al 101% dell'ammontare principale più eventuali interessi maturati e non pagati.
NextNav (NASDAQ: NN), un líder en posicionamiento, navegación y temporización de próxima generación (PNT) y geolocalización 3D, ha cerrado con éxito un colocación privada de 190 millones de dólares de notas convertibles senior garantizadas redimibles al 5% con vencimiento en 2028. La empresa recibió ingresos netos de aproximadamente 188.6 millones de dólares después de deducir tarifas y gastos.
La empresa planea utilizar parte de estos ingresos para redimir su monto principal agregado de 70 millones de dólares de Notas Senior Garantizadas al 10% con vencimiento en 2026. La redención se llevará a cabo al 101% del monto principal más cualquier interés acumulado y no pagado.
NextNav (NASDAQ: NN), 차세대 위치, 내비게이션 및 타이밍(PNT) 및 3D 지리정보의 선두주자가 1억 9천만 달러의 사모 투자를 성공적으로 마감했습니다. 2028년 만기 5% 상환 가능한 선순위 담보 전환사채입니다. 회사는 수수료 및 비용을 공제한 후 약 1억 8천 8백 6십만 달러의 순수익을 얻었습니다.
회사는 이러한 수익의 일부를 사용하여 만기 2026년의 7천만 달러의 총 원금 금액의 10% 선순위 담보 채권을 상환할 계획입니다. 상환은 원금의 101%와 미지급 이자를 더한 금액으로 진행됩니다.
NextNav (NASDAQ: NN), un leader dans le domaine du positionnement, de la navigation et du chronométrage de nouvelle génération (PNT) ainsi que de la géolocalisation 3D, a réussi à clôturer un placement privé de 190 millions de dollars d'obligations convertibles senior sécurisées remboursables à 5% arrivant à échéance en 2028. La société a reçu des produits nets d'environ 188,6 millions de dollars après déduction des frais et dépenses.
La société prévoit d'utiliser une partie de ces produits pour racheter son montant principal agrégé de 70 millions de dollars d'Obligations Senior Sécurisées à 10% arrivant à échéance en 2026. Le rachat sera effectué à 101% du montant principal plus tout intérêt accumulé et impayé.
NextNav (NASDAQ: NN), ein führendes Unternehmen im Bereich der Positionierung, Navigation und Zeitmessung (PNT) der nächsten Generation sowie der 3D-Geolokalisierung, hat erfolgreich eine Privatplatzierung von 190 Millionen US-Dollar von 5% rückzahlbaren, senior gesicherten wandelbaren Anleihen mit Fälligkeit im Jahr 2028 abgeschlossen. Das Unternehmen erhielt nach Abzug von Gebühren und Kosten netto etwa 188,6 Millionen US-Dollar.
Das Unternehmen plant, einen Teil dieser Einnahmen zu verwenden, um seine bestehenden 70 Millionen US-Dollar an 10% Senior Gesicherten Anleihen mit Fälligkeit im Jahr 2026 zurückzuzahlen. Die Rückzahlung erfolgt zu 101% des Nennbetrags zuzüglich aufgelaufener und unbezahlter Zinsen.
- Secured $188.6 million in net proceeds from convertible notes offering
- Reduced interest rate from 10% to 5% on debt refinancing
- Extended debt maturity from 2026 to 2028
- Increased total debt burden by $120 million
- Potential future dilution for shareholders due to convertible nature of new notes
RESTON, Va., March 27, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (the "Company" or “NextNav”) [NASDAQ: NN], a leader in next-generation positioning, navigation, and timing (“PNT”) and 3D geolocation, today announced the successful closing of the previously announced private placement of
The Company intends to use a portion of the Net Proceeds to redeem its
About NextNav
NextNav Inc. (Nasdaq: NN) 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.
For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including without limitation, statements about the redemption of the Existing Notes. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks include, but are not limited to, those related to the Company’s ability to complete the transactions on the proposed terms or on the anticipated timeline, or at all. These forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Readers are directed to the Company’s periodic and other reports filed with the Securities and Exchange Commission (the “SEC”) for a description of such risks and uncertainties. The Company undertakes no obligation to update any forward-looking statements. In evaluating those statements, you should specifically consider various factors, including the risks and uncertainties discussed in the Company’s Annual and Quarterly Reports on Forms 10-K and 10-Q and in other reports the Company files with the SEC. Actual events or the Company’s actual results may differ materially from the forward-looking statements.
Source: NN-FIN
Investor Contact:
IR@nextnav.com
Media Contact:
NNmedia@nextnav.com
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