• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    NextNav Announces $190 Million of 5% Redeemable Senior Secured, Convertible Transaction

    3/12/25 4:25:00 PM ET
    $NN
    Industrial Machinery/Components
    Industrials
    Get the next $NN alert in real time by email

    New Investment Led by M-Cor Capital, LLC and Fortress Investment Group

    Existing 10% Senior Secured Notes to be Redeemed

    RESTON, Va., March 12, 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 it had entered into a purchase agreement for the sale of $190 million of 5% redeemable senior secured convertible notes (the "New Notes"). The New Notes will mature on June 30, 2028, and approximately $70 million of the proceeds from this issuance will be used to redeem NextNav's existing 10% Senior Secured Notes due December 1, 2026 (the "10% Notes") and pay accrued interest. The New Notes transaction was led by M-Cor Capital, LLC, the investment arm of the Milken Family Office ("M-Cor Capital"), funds managed by affiliates of Fortress Investment Group ("Fortress" or "Fortress funds") (collectively, the "Lead Investors"), and other new and existing investors.

    "We are pleased to announce the signing of a note purchase agreement for a private offering of $190 million new convertible notes led by M-Cor Capital and Fortress," said Mariam Sorond, CEO of NextNav. "This transaction strengthens our financial position, enabling us to invest in our technology, pursue our growth objectives and create long-term stockholder value as we pursue the Company's mission to enable a widescale terrestrial PNT solution working with standards-based 5G infrastructure and device providers. We look forward to collaborating with the teams at new investor M-Cor, and Fortress, a pre-existing and substantial long-term shareholder in the company, as well as our other new and existing backers."

    "The US GPS system is the world's best, but our nation needs a back-up system and the need for widescale terrestrial PNT solutions is clear. NextNav's vision and technology promise to deliver a rapid and cost-effective approach to scaling resilient PNT solutions while also adding low-band spectrum for 5G," said Josh Lobel, CEO of M-Cor Capital.

    "Fortress first invested in NextNav in January 2020 where we led a round to deploy geolocation-based services for an emergency responder "z axis" solution," said Drew McKnight, Co-Chief Executive Officer and Managing Partner, Fortress. "We later participated in the PIPE as part of NextNav going public and are excited to invest alongside Josh and the M-Cor team as NextNav works to solve a critical infrastructure issue with a backup to GPS while improving the US 5G ecosystem."

    Transaction Details

    The New Notes will have a conversion price of $12.56 per share, based on a 20% premium to the trailing 10-day closing price average prior to March 11, 2025. The New Notes may not be redeemed for one year, after which New Notes will be redeemable if the closing price of NextNav common stock is greater than 160% of the New Notes conversion price, for at least 20 days during any consecutive 30 day trading period. Conversion will be at the option of the noteholder.

    The Company will provide a conditional notice to redeem the existing 10% Notes at 101% of the principal amount of the existing notes, plus accrued and unpaid interest, conditioned upon the closing of the transaction. The transaction is expected to close on or about March 31, 2025.

    At closing, each of M-Cor and Fortress will receive warrants to purchase 1.5 million shares of NextNav common stock exercisable at $20 per share, warrants to purchase 950 thousand shares of common stock at an exercise price of $17 per share, and warrants to purchase 1.45 million shares at an exercise price of $12.56 per share.  

    The New Notes and the warrants were not registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Neither this press release, nor anything contained herein, shall constitute a notice of redemption with respect to the 10% Notes.

    About Fortress Investment Group

    Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $49.0 billion of assets under management as of September 30, 2024, on behalf of over 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.

    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 maturity date of the New Notes, the redemption of the 10% Notes, the benefit of the transaction to NextNav, and the closing date of the transaction. 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:

    [email protected]

    Media Contact:

    [email protected]



    Primary Logo

    Get the next $NN alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $NN

    DatePrice TargetRatingAnalyst
    11/14/2024$12.00 → $20.00Buy
    B. Riley Securities
    8/12/2022Outperform → Perform
    Oppenheimer
    1/6/2022$16.00Buy
    R. F. Lafferty
    11/11/2021$15.00Outperform
    Oppenheimer
    11/8/2021$17.00Buy
    B. Riley Securities
    More analyst ratings

    $NN
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Selby Lorin was granted 13,154 shares (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      7/1/25 4:31:03 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Director Subin Neil S was granted 13,154 shares, increasing direct ownership by 9% to 161,342 units (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      7/1/25 4:29:08 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Director Palmer Nicola was granted 13,154 shares, increasing direct ownership by 75% to 30,777 units (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      7/1/25 4:26:09 PM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • NextNav Inc. Reports First Quarter 2025 Results and Operational Highlights

      FCC releases Notice of Inquiry (NOI) with bipartisan 4-0 vote NextNav Announces Appointment of Rear Admirals H. Wyman Howard and Lorin Selby to its Board of Directors RESTON, Va., May 09, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported its financial results and operational updates for the quarter ended March 31, 2025. "During the quarter we saw continued FCC momentum with a unanimous vote in March to further explore PNT solutions, specifically including NextNav's," said NextNav's CEO, Mariam Sorond. "We remain focused on executing against our goals and addressing an urgent national

      5/9/25 8:00:00 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav to Participate in Upcoming Investor Conferences

      RESTON, Va., May 07, 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 that Chief Financial Officer, Chris Gates, will participate in the following upcoming conferences: 20th Annual Needham Technology, Media, & Consumer 1x1 Conference on May 9 and 12, 2025. Mr. Gates will participate in virtual one-on-one meetings with investors. B. Riley Securities 25th Annual Investor Conference on May 21-22, 2025. Mr. Gates will participate in an Analyst Hosted Roundtable on May 21, 2025 at 4:00 pm PT in Marina del Rey, CA. To schedule a one-on-one meeting

      5/7/25 8:30:00 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav Announces Appointment of H. Wyman Howard and Lorin Selby to its Board of Directors

      RESTON, Va., April 16, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN), a leader in next-generation position, navigation and timing (PNT) and 3D geolocation, today announced that its board of directors has elected Rear Admiral H. Wyman Howard and Rear Admiral Lorin Selby to serve as board members, effective May 1, 2025. "We are honored to welcome Rear Admiral Howard and Rear Admiral Selby to the NextNav Board of Directors," said Mariam Sorond, NextNav's Chief Executive Officer and Board Chair. "Their extensive military and national security leadership, experience in technology research and development, and management capabilities will be invaluable to NextNav as we execute on our strate

      4/16/25 11:30:00 AM ET
      $BAER
      $INVH
      $NN
      Business Services
      Consumer Discretionary
      Real Estate
      Finance

    $NN
    SEC Filings

    See more
    • NextNav Inc. filed SEC Form 8-K: Leadership Update

      8-K - NEXTNAV INC. (0001865631) (Filer)

      7/3/25 5:00:37 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - NEXTNAV INC. (0001865631) (Filer)

      5/23/25 6:05:16 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Amendment: NextNav Inc. filed SEC Form 8-K: Leadership Update

      8-K/A - NEXTNAV INC. (0001865631) (Filer)

      5/9/25 4:05:19 PM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • B. Riley Securities reiterated coverage on NextNav with a new price target

      B. Riley Securities reiterated coverage of NextNav with a rating of Buy and set a new price target of $20.00 from $12.00 previously

      11/14/24 9:03:36 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav downgraded by Oppenheimer

      Oppenheimer downgraded NextNav from Outperform to Perform

      8/12/22 7:32:15 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • R. F. Lafferty initiated coverage on NextNav with a new price target

      R. F. Lafferty initiated coverage of NextNav with a rating of Buy and set a new price target of $16.00

      1/6/22 7:41:35 AM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Subin Neil S bought $1,731,500 worth of shares (250,000 units at $6.93) (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      8/27/24 5:06:27 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Large owner Samberg Joseph D bought $2,350,862 worth of shares (315,200 units at $7.46) (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      6/24/24 8:16:11 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Subin Neil S bought $1,140,269 worth of shares (150,000 units at $7.60) (SEC Form 4)

      4 - NEXTNAV INC. (0001865631) (Issuer)

      5/15/24 5:20:09 PM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by NextNav Inc.

      SC 13D/A - NEXTNAV INC. (0001865631) (Subject)

      12/6/24 6:03:25 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Amendment: SEC Form SC 13D/A filed by NextNav Inc.

      SC 13D/A - NEXTNAV INC. (0001865631) (Subject)

      11/14/24 4:49:48 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Amendment: SEC Form SC 13G/A filed by NextNav Inc.

      SC 13G/A - NEXTNAV INC. (0001865631) (Subject)

      11/14/24 12:49:40 PM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Leadership Updates

    Live Leadership Updates

    See more
    • NextNav Announces Appointment of H. Wyman Howard and Lorin Selby to its Board of Directors

      RESTON, Va., April 16, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN), a leader in next-generation position, navigation and timing (PNT) and 3D geolocation, today announced that its board of directors has elected Rear Admiral H. Wyman Howard and Rear Admiral Lorin Selby to serve as board members, effective May 1, 2025. "We are honored to welcome Rear Admiral Howard and Rear Admiral Selby to the NextNav Board of Directors," said Mariam Sorond, NextNav's Chief Executive Officer and Board Chair. "Their extensive military and national security leadership, experience in technology research and development, and management capabilities will be invaluable to NextNav as we execute on our strate

      4/16/25 11:30:00 AM ET
      $BAER
      $INVH
      $NN
      Business Services
      Consumer Discretionary
      Real Estate
      Finance
    • NextNav Successfully Demonstrates Positioning Reference Signal-Based PNT Technology

      RESTON, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) -- NextNav (NASDAQ:NN) today announced the successful completion of lab and field demonstrations of its innovative Positioning, Navigation, and Timing (PNT) solution based on Positioning Reference Signal (PRS) standards in 5G waveforms. With 5G and PRS standards already in place, this validates that NextNav PNT technology solutions can enable a widescale commercial 5G-based PNT solution that provides a resilient terrestrial complement and backup to traditional GPS signals. The demonstrations culminated in a successful field test using a prototype network operating on NextNav's existing spectrum in Palo Alto, California. These tests validated t

      2/26/25 9:00:00 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav Names Renee Gregory as Vice President of Regulatory Affairs

      RESTON, Va., Feb. 12, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN), a leader in next-generation positioning, navigation, and timing (PNT) and 3D geolocation, announced the appointment of Renee Gregory as NextNav's Vice President of Regulatory Affairs. In this newly created role, Ms. Gregory leads the company's FCC regulatory approval process and compliance work. Her experience and expertise will be integral to meeting NextNav's commitment to providing next-generation location technologies and providing a robust terrestrial complement and backup to GPS to meet an urgent national security need. "Renee's appointment as NextNav's Vice President of Regulatory Affairs will help the company

      2/12/25 9:15:00 AM ET
      $NN
      Industrial Machinery/Components
      Industrials

    $NN
    Financials

    Live finance-specific insights

    See more
    • NextNav Inc. Reports First Quarter 2025 Results and Operational Highlights

      FCC releases Notice of Inquiry (NOI) with bipartisan 4-0 vote NextNav Announces Appointment of Rear Admirals H. Wyman Howard and Lorin Selby to its Board of Directors RESTON, Va., May 09, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported its financial results and operational updates for the quarter ended March 31, 2025. "During the quarter we saw continued FCC momentum with a unanimous vote in March to further explore PNT solutions, specifically including NextNav's," said NextNav's CEO, Mariam Sorond. "We remain focused on executing against our goals and addressing an urgent national

      5/9/25 8:00:00 AM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • Update: NextNav Announces Date for First Quarter 2025 Earnings Call

      RESTON, Va., April 14, 2025 (GLOBE NEWSWIRE) -- NextNav (NASDAQ:NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, today announced that it will release its financial results for the first quarter ended March 31, 2025 before market open on Friday, May 9, 2025, and will host a conference call on the same day at 9:00 AM ET to discuss its results. Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I6293672417. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to

      4/14/25 5:11:26 PM ET
      $NN
      Industrial Machinery/Components
      Industrials
    • NextNav Announces Date for First Quarter 2025 Earnings Call

      RESTON, Va., April 14, 2025 (GLOBE NEWSWIRE) -- NextNav (NASDAQ:NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, today announced that it will release its financial results for the first quarter ended March 31, 2025 after the market closes on Wednesday, May 7, 2025, and will host a conference call on the same day at 5:00 PM ET to discuss its results. Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I6293672417. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be

      4/14/25 4:05:00 PM ET
      $NN
      Industrial Machinery/Components
      Industrials