NextNav Announces Redemption of 5.00% Senior Secured Convertible Notes
NextNav announced the redemption of all outstanding 5.00% Senior Secured Convertible Notes due 2028, with a total principal amount of approximately $186.5 million. The redemption is triggered because NextNav's stock price exceeded 160% of the conversion price for at least 20 of the last 30 trading days, allowing the company to retire the debt at par plus accrued interest.
Key figures
- Coupon rate
- 5.00%
- Redemption price
- 100% of principal plus accrued interest
- Notes principal outstanding
- 186500000
- Redemption trigger threshold
- 160% of conversion price
AI analysis
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