NextNav invests $1.1M in MetCom JV for Japan TerraPoiNT/Pinnacle commercialization

NEXTNAV INC.

On July 15, 2022, NextNav purchased 333,334 shares of MetCom Class B2 Preferred Stock for ~$1.1M (¥450/share).
Total Series B round of ~$5.9M included DRONE FUND III, KCCS, and Secom Co., Ltd.
NextNav's total ownership in MetCom is 14.8% prior to unexercised convertible bonds/warrants.
MetCom's TerraPoiNT proof-of-concept phase substantially completed; spectrum license application pending with Japan's MIC.
NextNav retains warrant to acquire additional shares to reach up to 33% ownership of MetCom common stock.

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