Company: NXNVW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001213900-25-041217
Chunk: 14

Company: NEXTNAV INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 1A
Chunk 14
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., 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 that were available for sale under this 10b5-1 trading plan after vesting and settlement of her RSUs was 440,075 shares. Prior to its termination, this 10b5-1 trading plan had been expected to remain in place until the earlier of (i) September 30, 2025 and (ii) the date on which all transactions under such plan were completed.
On March 21, 2025, Mariam Sorond adopted a 10b5-1