Company: NXNVW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001213900-25-041217
Chunk: 6

Company: NEXTNAV INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 1
Chunk 6
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 three months ended March 31, 2025 included elsewhere in this Quarterly Report on Form 10-Q for more information), we issued 7,800,000 warrants (the “2025 Debt Warrants” and, together with the 2023 Debt Warrants, the “Debt Warrants”) with exercise prices ranging from $12.56 to $20.00 per share to certain of the purchasers thereof. The 2025 Debt Warrants will expire at 5:00 p.m., New York time, on December 31, 2028. As of March 31, 2025, 7,800,000 2025 Debt Warrants were outstanding. 

Sales of substantial numbers of shares of our common stock underlying the Debt Warrants in the public market will dilute existing stockholders, may reduce the book value of existing shares of common stock and could depress the market price of our common stock.  

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

(a) Unregistered Sales of Equity Securities 

Other than as previously disclosed in our Current Reports on Form 8-K, we did not sell any unregistered equity securities during the fiscal quarter ended March 31, 2025. 

(b) Use of Proceeds from Sale of Registered Equity Securities

None. 

(c) Purchases of Equity Securities by the Issuer 

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Trading Plans
 
On March 19, 2025, Mariam Sorond, President, Chief Executive Officer and a Director, terminated a “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K) intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “10b5-1 trading plan”) that was previously adopted on August 29, 2024. This 10b5-1 trading plan provided for the potential sale of 45% of the gross shares of common stock to be issued to Ms. Sorond upon the vesting and settlement of her restricted stock units (“RSUs”) with vesting dates of November 29, 2024, February 28, 2025, May 29, 2025, and August 29, 2025. The aggregate number of shares of common stock