NextNav to go public in merger agreement with Spartacus acquisition

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(RTTNews) – NextNav, a next-generation GPS provider, and Spartacus Acquisition Corp. (TMTS, TMTSW and TMTSU), a specialist acquisition company, announced on Thursday a definitive merger agreement, which will make NextNav a public company.

Upon closing of the transaction, the combined company will be named NextNav Inc., and its common shares and warrants will be listed on the Nasdaq under the ticker symbol “NN” and “NNW”, respectively.

NextNav expects gross proceeds of up to $ 408 million from the business combination to be used to fuel the growth of its current business, continue to build NextNav’s next-generation GPS platform, expand products, one of which is already deployed in 4,400 cities and expanding its territory – positioning and synchronization radio network.

NextNav’s platform serves a global addressable $ 100 billion market in public safety, e911, consumer applications, eVTOL, drones and autonomous vehicles, IoT and critical infrastructure, and many other sectors.

Beyond its technology and intellectual property, NextNav has a unique portfolio of nationwide spectrum licenses for 2.4 billion MHz-PoP of 900 MHz.

NextNav will continue to be led by Ganesh Pattabiraman, co-founder, CEO and President of NextNav.

Gary Parsons, Chairman of the Board of NextNav for 10 years, will retain this role. Peter Aquino, Chairman of the Board and CEO of Spartacus, will also join the Board of Directors of NextNav upon closing of the business combination.

NextNav’s full leadership team including co-founder Dr. Arun Raghupathy as SVP of Engineering, Chris Gates as CFO and David Knutson as SVP operations and network deployment, will continue to manage NextNav.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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