NEXTNAV INC. (NN): debt financing — NextNav secures additional $20M in 10% Senior Secured Notes due 2026, total facility now $70M

NEXTNAV INC.

Additional $20M aggregate principal amount of 10% Senior Secured Notes due Dec 2026, plus 7.4M common stock purchase warrants.
Closing expected July 6, 2023; gross proceeds of $20M added to initial $50M closed May 9, 2023.
Additional Notes and Warrants are substantially identical in terms to those issued at Initial Closing.
Issued in a private placement under Section 4(a)(2) and Regulation D; B. Riley Securities acted as financial advisor.

item 2.03 item 3.02 item 8.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NEXTNAV INC. incurred senior notes of $20 million aggregate principal amount of 10.00% Senior Secured Notes due December 2026 with GLAS Trust Company, LLC at 10.00% maturing December 2026.

Instrument: senior notes
Principal: $20 million aggregate principal amount of 10.00% Senior Secured Notes due December 2026
Counterparty: GLAS Trust Company, LLC
Rate: 10.00%
Maturity: December 2026
Event: incurrence

Exact text from the filing

binding commitments to purchase an additional $20 million aggregate principal amount of 10.00% Senior Secured Notes due December 2026

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NEXTNAV INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-048155

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