On March 11, 2024, NextNav announced it signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band (902-928) from Telesaurus Holdings GB LLC, and Skybridge Spectrum Foundation. NextNav acquired the additional spectrum licenses for a total purchase price of up to $50 million, paid for through a combination of cash and NextNav common stock. The acquired licenses are in the same lower 900 MHz band as NextNav's current licensed spectrum. On April 16, 2024, NextNav filed a rulemaking petition with the Federal Communications Commission to deliver a spectrum solution in the Lower 900 MHz band to facilitate a terrestrial positioning, navigation, and timing network (as a complement and backup to GPS) and broadband.
On March 11, 2024, NextNav announced it signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band (902-928) from Telesaurus Holdings GB LLC, and Skybridge Spectrum Foundation. NextNav acquired the additional spectrum licenses for a total purchase price of up to $50 million, paid for through a combination of cash and NextNav common stock. The acquired licenses are in the same lower 900 MHz band as NextNav's current licensed spectrum. On April 16, 2024, NextNav filed a rulemaking petition with the Federal Communications Commission to deliver a spectrum solution in the Lower 900 MHz band to facilitate a terrestrial positioning, navigation, and timing network (as a complement and backup to GPS) and broadband.