Hogan Lovells advises NextNav in US$1.2B SPAC merger with Spartacus Acquisition Corporation
Northern Virginia and Philadelphia, 11 June 2021 – Global law firm Hogan Lovells advised next generation GPS company NextNav in its merger with Spartacus Acquisition Corporation, a special acquisition company (SPAC). The new company will be named NextNav Inc.
The merger will result in NextNav becoming a public company at a pro forma implied enterprise value of US$900 million and fully diluted pro forma equity value of about US$1.2 billion.
Up to US$408 million in gross proceeds will be used to grow its business and build out its next generation GPS platform, which includes its two leading services, Pinnacle (altitude-only) and TerraPoiNT (full 3D position, navigation and timing capabilities).
The Hogan Lovells cross-office and cross-practice team was led by Corporate & Finance partner Randy Segal and included partners Adam Brown, John Duke, and Jessica Bisignano, as well as senior associates Michael Rogers and Liz Banks, and associate Chelsea Shrader.
More information can be found in NextNav’s press release.