NextNav Inc. (NasdaqCM:NN) agreed to acquire Spectrum Licenses 4 MHz in the lower 900 MHz band from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation for $50 million.

NextNav Inc. (NasdaqCM:NN) agreed to acquire Spectrum Licenses 4 MHz in the lower 900 MHz band from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation for $50 million on March 7, 2024. The consideration consists of $2.50 million in cash and $47.50 million in common equity. As part of the consideration, $50 million was paid towards assets.

As 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.

As of March 28, 2024, the transaction was approved by the court.