Business
NextNav Announces Redemption of 5.00% Senior Secured Convertible Notes
RESTON, Va., June 15, 2026--NextNav Inc. (NASDAQ: NN) ("NextNav or the "Company") a leader in next-generation 3D positioning, navigation, and timing (PNT) solutions, today announced that it has delivered a notice of redemption for all of its outstanding 5.00% Senior Secured Convertible Notes due 2028 (the "Notes").
About this update from Nextnav Inc.
RESTON, Va., June 15, 2026--(BUSINESS WIRE)--NextNav Inc. (NASDAQ: NN) ("NextNav or the "Company") a leader in next-generation 3D positioning, navigation, and timing (PNT) solutions, today announced that it has delivered a notice of redemption for all of its outstanding 5.00% Senior Secured Convertible Notes due 2028 (the "Notes"). The Notes will be redeemed on June 25, 2026 (the "Redemption Date"), at a price equal to 100% of their principal amounts, plus accrued but unpaid interest (the "Redemption Price"), in accordance with the terms of the governing Note documents. Under the terms of the Notes, the Company is entitled to redeem the Notes if the closing price of NextNav's common stock exceeds 160% of the conversion price of the Notes for at least 20 trading days during any consecutive 30-trading-day period ending on, and including the trading day immediately preceding the date the Company provides notice of redemption. The Company has determined that these redemption conditions have been satisfied. As of June 15, 2026, approximately $186.5 million in aggregate principal amount of Notes was outstanding, subject to adjustment in the event of conversions during the pendency of the redemption. Holders of the Notes may elect to convert their Notes in accordance with the terms of the governing Note documents at any time prior to the close of business on the second trading day immediately prior to the Redemption Date. Any Notes not converted prior to the applicable deadline will be redeemed for the Redemption Price on the Redemption Date and will thereafter be canceled and cease to be outstanding. "With the redemption of these Notes, we continue to simplify the balance sheet and enhance financial flexibility as we continue advancing our strategy to deliver a terrestrial complement and backup to GPS," said Tim Gray, CFO of NextNav. Holders of Notes should direct any questions concerning the redemption process or conversion procedures to GLAS Trust Company LLC Limited at [email protected]. General questions concerning the redemption may be directed to the Company's investor relations team at [email protected]. No Offer or SolicitationThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of, any of the Company's s...