# EDGAR Filing Document

**Accession Number:** 0001865631
**File Stem:** 0001193125-26-055341
**Filing Date:** 2026-2
**Character Count:** 20355
**Document Hash:** afe3d30f3ce3d1eb58cb5490e68e2765
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-055341.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001193125-26-055341

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEXTNAV INC.
- **CENTRAL INDEX KEY:** 0001865631
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93005
- **FILM NUMBER:** 26644306

**BUSINESS ADDRESS:**
- **STREET 1:** 11911 FREEDOM DRIVE
- **STREET 2:** STE 200
- **CITY:** RESTON
- **STATE:** VA
- **ZIP:** 20190
- **BUSINESS PHONE:** 800-775-0982

**MAIL ADDRESS:**
- **STREET 1:** 11911 FREEDOM DRIVE
- **STREET 2:** STE 200
- **CITY:** RESTON
- **STATE:** VA
- **ZIP:** 20190

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spartacus Acquisition Shelf Corp.
- **DATE OF NAME CHANGE:** 20210603
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OSI Capital Management LLC
- **CENTRAL INDEX KEY:** 0001975843

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** VICTORIA PLACE
- **STREET 2:** 31 VICTORIA STREET
- **CITY:** HAMILTON
- **STATE:** D0
- **ZIP:** HM 10
- **BUSINESS PHONE:** 4417043213

**MAIL ADDRESS:**
- **STREET 1:** VICTORIA PLACE
- **STREET 2:** 31 VICTORIA STREET
- **CITY:** HAMILTON
- **STATE:** D0
- **ZIP:** HM 10

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** NextNav Inc.

**Title of Class of Securities:** Common Stock, par value $0.0001 per share

**CUSIP Number:** 65345N106

**Date of Event Which Requires Filing of this Statement:** 12/31/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>OSI Capital Management LLC | Names of Reporting Persons<br>OSI Capital Management LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>13260166 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>13260166 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.8% | Percent of Class Represented by Amount in Row (9)<br>9.8% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** The number of shares beneficially owned consists of (i) 13,235,166 shares of common stock, par value $0.0001 per share ("Common Stock"), and (ii) 25,000 warrants ("Warrants") that are exercisable for 25,000 shares of Common Stock ("Warrant Shares"), all of which are directly held by Black Feathers, L.P. ("Black Feathers").  The Warrants (i) became exercisable on November 27, 2021, (ii) are exercisable at a price of $11.50 per Warrant Share and (iii) expire on October 28, 2026. The percent of class is based upon 134,829,088 shares of Common Stock outstanding as of November 3, 2025 according to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on November 6, 2025.

---

| 1. | Names of Reporting Persons<br>Black Feathers, L.P. | Names of Reporting Persons<br>Black Feathers, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D0 | Citizenship or Place of Organization<br>D0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>13260166 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>13260166 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.8% | Percent of Class Represented by Amount in Row (9)<br>9.8% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The number of shares beneficially owned consists of (i) 13,235,166 shares of Common Stock and (ii) 25,000 Warrants that are exercisable for 25,000 Warrant Shares, all of which are directly held by Black Feathers.  The Warrants (i) became exercisable on November 27, 2021, (ii) are exercisable at a price of $11.50 per Warrant Share and (iii) expire on October 28, 2026. The percent of class is based upon 134,829,088 shares of Common Stock outstanding as of November 3, 2025 according to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on November 6, 2025.

---

| 1. | Names of Reporting Persons<br>Edward Neil Halliday | Names of Reporting Persons<br>Edward Neil Halliday |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X0 | Citizenship or Place of Organization<br>X0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>13260166 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>13260166 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.8% | Percent of Class Represented by Amount in Row (9)<br>9.8% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The number of shares beneficially owned consists of (i) 13,235,166 shares of Common Stock and (ii) 25,000 Warrants that are exercisable for 25,000 Warrant Shares, all of which are directly held by Black Feathers.  The Warrants (i) became exercisable on November 27, 2021, (ii) are exercisable at a price of $11.50 per Warrant Share and (iii) expire on October 28, 2026. The percent of class is based upon 134,829,088 shares of Common Stock outstanding as of November 3, 2025 according to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on November 6, 2025.

---

| 1. | Names of Reporting Persons<br>Tivin Turchiaro | Names of Reporting Persons<br>Tivin Turchiaro |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>Z4 | Citizenship or Place of Organization<br>Z4 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>13260166 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>13260166 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.8% | Percent of Class Represented by Amount in Row (9)<br>9.8% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The number of shares beneficially owned consists of (i) 13,235,166 shares of Common Stock and (ii) 25,000 Warrants that are exercisable for 25,000 Warrant Shares, all of which are directly held by Black Feathers.  The Warrants (i) became exercisable on November 27, 2021, (ii) are exercisable at a price of $11.50 per Warrant Share and (iii) expire on October 28, 2026. The percent of class is based upon 134,829,088 shares of Common Stock outstanding as of November 3, 2025 according to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on November 6, 2025.

---

| 1. | Names of Reporting Persons<br>Roderick M. Forrest | Names of Reporting Persons<br>Roderick M. Forrest |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X0 | Citizenship or Place of Organization<br>X0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>13260166 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>13260166 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>13260166 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.8% | Percent of Class Represented by Amount in Row (9)<br>9.8% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The number of shares beneficially owned consists of (i) 13,235,166 shares of Common Stock and (ii) 25,000 Warrants that are exercisable for 25,000 Warrant Shares, all of which are directly held by Black Feathers.  The Warrants (i) became exercisable on November 27, 2021, (ii) are exercisable at a price of $11.50 per Warrant Share and (iii) expire on October 28, 2026. The percent of class is based upon 134,829,088 shares of Common Stock outstanding as of November 3, 2025 according to the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on November 6, 2025.

---

**Item 1(a). Name of Issuer:**
NextNav Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
11911 Freedom Dr., Ste. 200, Reston, Virginia 20190

**Item 2(a). Name of Person Filing:**
This Amendment No. 2 (this "Amendment") to the Schedule 13G originally filed on May 26, 2023, as amended by Amendment No. 1 filed on February 13, 2024, is jointly filed by:

1.    OSI Capital Management LLC ("OSI"), as the general partner of Black Feathers, L.P. ("Black Feathers"), with respect to the shares of Common Stock of NextNav Inc. (the "Issuer") directly held by Black Feathers;

2.    Black Feathers with respect to the shares of Common Stock of the Issuer directly held by Black Feathers;

3.    Edward Neil Halliday ("Halliday"), as a manager of OSI, the general partner of Black Feathers, with respect to the shares of Common Stock directly held by Black Feathers;

4.    Tivin Turchiaro ("Turchiaro"), as a manager of OSI, the general partner of Black Feathers, with respect to the shares of Common Stock directly held by Black Feathers; and

5.    Roderick M. Forrest ("Forrest" and collectively with Halliday and Turchiaro, the "OSI Managers"), as a manager of OSI, the general partner of Black Feathers, with respect to the shares of Common Stock directly held by Black Feathers.

OSI, Black Feathers and the OSI Managers are hereinafter collectively referred to as the "Reporting Persons". The Reporting Persons are filing this Amendment jointly, but not as members of a group, and each disclaims membership in a group.

**Item 2(b). Address of Principal Business Office:**
The address of the business office of each of the Reporting Persons is:c/o OSI Capital Management LLC
'Victoria Place' 31 Victoria Street
Hamilton, HM 10 Bermuda

**Item 2(c). Citizenship:**
OSI is a Delaware limited liability company. Black Feathers is a Bermuda limited partnership. Halliday and Forrest are citizens of the United Kingdom. Turchiaro is a citizen of Canada.

**Item 2(d). Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
65345N106

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

OSI, as the general partner of Black Feathers, and the OSI Managers, as the managers of OSI, may be deemed to beneficially own the shares of Common Stock directly held by Black Feathers. OSI, as the general partner of Black Feathers, and the OSI Managers, as managers of OSI, have the shared power to vote, or to direct the vote of, and to dispose of, or to direct the disposition of, the shares of Common Stock directly held by Black Feathers. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Act"), each of the Reporting Persons may be deemed to beneficially own the shares of Common Stock directly held by Black Feathers. The filing of this Amendment shall not be construed as an admission that OSI or any OSI Manager is, for purposes of Section 13(d) or 13(g) of the Act, a beneficial owner of any of the shares of Common Stock covered by this Amendment.
Each of the Reporting Persons may be deemed to beneficially own the 13,260,166 shares of Common Stock directly held by Black Feathers, which consist of (i) 13,235,166 shares of Common Stock and (ii) 25,000 warrants that are exercisable for 25,000 shares of Common Stock.

**(b) Percent of class:**

9.8%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

0

**(ii) Shared power to vote or to direct the vote:**

13,260,166

**(iii) Sole power to dispose or to direct the disposition of:**

0

**(iv) Shared power to dispose or to direct the disposition of:**

13,260,166

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**OSI Capital Management LLC**

**Date:** 02/17/2026

**By:** /s/ Edward Neil Halliday

**Name & Title:** Edward Neil Halliday, Manager

**Black Feathers, L.P.**

**Date:** 02/17/2026

**By:** /s/ Edward Neil Halliday

**Name & Title:** Edward Neil Halliday, Manager of the General Partner

**Edward Neil Halliday**

**Date:** 02/17/2026

**By:** /s/ Edward Neil Halliday

**Name & Title:** Edward Neil Halliday

**Tivin Turchiaro**

**Date:** 02/17/2026

**By:** /s/ Tivin Turchiaro

**Name & Title:** Tivin Turchiaro

**Roderick M. Forrest**

**Date:** 02/17/2026

**By:** /s/ Roderick M. Forrest

**Name & Title:** Roderick M. Forrest