NextNav Completes Redemption of Warrants and Convertible Notes
NextNav completed the redemption of all outstanding public warrants and all 5.00% Senior Secured Convertible Notes due 2028, receiving approximately $170 million in cash proceeds from warrant exercises. The redemptions were triggered by NextNav's common stock maintaining closing prices above $18.00 for warrants and above 160% of the notes' conversion price for at least 20 trading days within 30 trading day periods.
Key figures
- Note maturity year
- 2028
- Convertible note rate
- 5.00%
- Warrant cash proceeds
- $170 million
- Warrant trigger price
- $18.00
- Note redemption threshold
- 160% of conversion price
AI analysis
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