Lynk Continues Public Market Debut Despite Dwindling SPAC Reserves
Satellite to phone connectivity supplier Lynk Global will head has THE public markets via A merger with A shell business directed by ancient professional baseball player Alex Rodriguez.
THE two companies confirmed THE agreement on Monday After announcing A without engagement Letter of Intent with that of Rodriguez special aim acquisition business (SPAC), slam Corp., In December. According to has A investor presentation deposit with regulators, THE agreement could give Lynk A $913.5 million post-money evaluation.
A lot of THE capital Since THE transaction will not come Since THE PSPC himself, However. In that even presentation, Lynk said around $800 million of THE new capital will come Since existing shareholder equity roll on, $110 million Since private-investment-in-public-equity (PIPE) And A little $25 million Since species detained In trust by THE SPAC.
Lynk, which has Already between a few international commercial markets including Palau, East look has compete on A even bigger ladder with initiatives as Starlink emerging sat-to-cell, Apples Global star Partnership And AST Space Mobile (which completed It is own PSPC merger In April 2021). Lynk has spear eight satellites that he calls "cell towers In space," but he Ultimately plans has function A constellation of 5,000 birds In weak Earth orbit. THE following two are anticipated has launch In March.
THE business East hoping that It is patented technology — which East compatible with any of them not modified cell phone, even those Operating on 2G networks — will be able has compete with these bigger And better capitalized players. THE business model East Also A little different: Lynk plans has contract with mobile network the operators (ORM) And telecom suppliers, And these partnerships will help THE business leverage these companies existing spectrum rights In orbit.
"We aim has position Lynk as THE of confidence wholesale supplier has ORMs, not direct has consumer," THE business explain. “Lynk technology can allow ORM has develop network blanket while continue has own THE relationship with their subscribers. »
Basically, Lynk would be provide minimal blanket Or networks to have none, allowing emergency Messaging And other services anywhere on THE planet. If THE networks charge additional For certain services (However emergency connectivity would be always be free), Or offer he as A added value In their existing price, Or find a few other path has capitalize on THE functionality, East up has them.
THE business further said that It is satellites are ready For mass production, socket just A month each has to assemble NOW And cost around $650,000 has launch, according to has THE presentation.
THE funding will be used has to grow production has 12 satellites by month; has that rate, Lynk said investors that he goals has to have 74 satellites In service by THE fourth quarter of 2025, conduct $175 million by month In annualized income.
A wave of space companies on THE pass two years to have headed has THE public markets by avoid THE traditional Initial Public Offer And merger with A PSPC instead. But THE vast majority of those to have wrong lack their income projections; a lot, including Arrow, Momentum And Satisfy were given action exchange radiation warnings For fail has keep their action prices above $1. Others, as Star And Earthling Orbital, simply confronted THE threat of radiation.
slam Corp. has Also had It is own disorders: Despite THE business breeding $575 million Since public investors In FEBRUARY 2021, he has Since had has back THE vast majority of those funds due has in progress shareholder buyouts After THE business failed has find A promising merger perspective. Lynk anticipates just $25 million Since that trust, which Assumed A 96% shareholder redemption rate.
But despite these track Recordings, Lynk clearly see A different future For himself on THE Nasdaq. THE transaction East expected has complete Sometimes In THE last half of THE year, after what Lynk will trade below THE teleprinter symbol $LYNK.
Satellite to phone connectivity supplier Lynk Global will head has THE public markets via A merger with A shell business directed by ancient professional baseball player Alex Rodriguez.
THE two companies confirmed THE agreement on Monday After announcing A without engagement Letter of Intent with that of Rodriguez special aim acquisition business (SPAC), slam Corp., In December. According to has A investor presentation deposit with regulators, THE agreement could give Lynk A $913.5 million post-money evaluation.
A lot of THE capital Since THE transaction will not come Since THE PSPC himself, However. In that even presentation, Lynk said around $800 million of THE new capital will come Since existing shareholder equity roll on, $110 million Since private-investment-in-public-equity (PIPE) And A little $25 million Since species detained In trust by THE SPAC.
Lynk, which has Already between a few international commercial markets including Palau, East look has compete on A even bigger ladder with initiatives as Starlink emerging sat-to-cell, Apples Global star Partnership And AST Space Mobile (which completed It is own PSPC merger In April 2021). Lynk has spear eight satellites that he calls "cell towers In space," but he Ultimately plans has function A constellation of 5,000 birds In weak Earth orbit. THE following two are anticipated has launch In March.
THE business East hoping that It is patented technology — which East compatible with any of them not modified cell phone, even those Operating on 2G networks — will be able has compete with these bigger And better capitalized players. THE business model East Also A little different: Lynk plans has contract with mobile network the operators (ORM) And telecom suppliers, And these partnerships will help THE business leverage these companies existing spectrum rights In orbit.
"We aim has position Lynk as THE of confidence wholesale supplier has ORMs, not direct has consumer," THE business explain. “Lynk technology can allow ORM has develop network blanket while continue has own THE relationship with their subscribers. »
Basically, Lynk would be provide minimal blanket Or networks to have none, allowing emergency Messaging And other services anywhere on THE planet. If THE networks charge additional For certain services (However emergency connectivity would be always be free), Or offer he as A added value In their existing price, Or find a few other path has capitalize on THE functionality, East up has them.
THE business further said that It is satellites are ready For mass production, socket just A month each has to assemble NOW And cost around $650,000 has launch, according to has THE presentation.
THE funding will be used has to grow production has 12 satellites by month; has that rate, Lynk said investors that he goals has to have 74 satellites In service by THE fourth quarter of 2025, conduct $175 million by month In annualized income.
A wave of space companies on THE pass two years to have headed has THE public markets by avoid THE traditional Initial Public Offer And merger with A PSPC instead. But THE vast majority of those to have wrong lack their income projections; a lot, including Arrow, Momentum And Satisfy were given action exchange radiation warnings For fail has keep their action prices above $1. Others, as Star And Earthling Orbital, simply confronted THE threat of radiation.
slam Corp. has Also had It is own disorders: Despite THE business breeding $575 million Since public investors In FEBRUARY 2021, he has Since had has back THE vast majority of those funds due has in progress shareholder buyouts After THE business failed has find A promising merger perspective. Lynk anticipates just $25 million Since that trust, which Assumed A 96% shareholder redemption rate.
But despite these track Recordings, Lynk clearly see A different future For himself on THE Nasdaq. THE transaction East expected has complete Sometimes In THE last half of THE year, after what Lynk will trade below THE teleprinter symbol $LYNK.
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