A senior secured convertible note is a loan a company issues that sits near the top of its repayment order (senior), is backed by specific assets as collateral (secured), and can be swapped into company shares later (convertible). For investors this matters because it combines lower risk of repayment and legal protection from the collateral with the upside of converting into equity—so it affects both the safety of debt holders and potential dilution for shareholders.
redemption pricefinancial
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
conversion pricefinancial
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
accrued but unpaid interestfinancial
Accrued but unpaid interest is interest that has built up on a loan, bond, or other debt instrument for the time that has passed but has not yet been paid to the lender or bondholder. Investors watch this because it affects the true amount owed, the cash flow and credit risk of the borrower, and the price you pay or receive for a bond — like buying a fruit basket where some fruit ripened yesterday but the seller hasn’t been paid for that ripeness yet.
principal amountfinancial
The principal amount is the original sum of money that is borrowed, lent, or invested before any interest, fees, or returns are added. It matters to investors because interest charges, scheduled repayments, and total return are calculated from that base amount — think of it as the price tag on which future costs or gains are built. Knowing the principal helps you compare deals and predict cash flows and risk.
redemption datefinancial
The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.
redemptionfinancial
Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.
positioning, navigation, and timingtechnical
Positioning, navigation, and timing (PNT) describes the combined ability to determine where something is, how it is moving, and the exact time — think of it as a GPS plus a precise clock and compass for machines and networks. Investors care because reliable PNT underpins industries from telecom and finance to transport and defense; companies that supply or depend on accurate PNT can see their operations, safety, and revenue directly affected by its availability and resilience.
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RESTON, Va.--(BUSINESS WIRE)--
NextNav Inc. (NASDAQ: NN) (“NextNav or the “Company”) a leader in next-generation 3D positioning, navigation, and timing (PNT) solutions, today announced that it has delivered a notice of redemption for all of its outstanding 5.00% Senior Secured Convertible Notes due 2028 (the “Notes”).
The Notes will be redeemed on June 25, 2026 (the “Redemption Date”), at a price equal to 100% of their principal amounts, plus accrued but unpaid interest (the “Redemption Price”), in accordance with the terms of the governing Note documents.
Under the terms of the Notes, the Company is entitled to redeem the Notes if the closing price of NextNav's common stock exceeds 160% of the conversion price of the Notes for at least 20 trading days during any consecutive 30-trading-day period ending on, and including the trading day immediately preceding the date the Company provides notice of redemption. The Company has determined that these redemption conditions have been satisfied.
As of June 15, 2026, approximately $186.5 million in aggregate principal amount of Notes was outstanding, subject to adjustment in the event of conversions during the pendency of the redemption. Holders of the Notes may elect to convert their Notes in accordance with the terms of the governing Note documents at any time prior to the close of business on the second trading day immediately prior to the Redemption Date. Any Notes not converted prior to the applicable deadline will be redeemed for the Redemption Price on the Redemption Date and will thereafter be canceled and cease to be outstanding.
"With the redemption of these Notes, we continue to simplify the balance sheet and enhance financial flexibility as we continue advancing our strategy to deliver a terrestrial complement and backup to GPS," said Tim Gray, CFO of NextNav.
Holders of Notes should direct any questions concerning the redemption process or conversion procedures to GLAS Trust Company LLC Limited at clientservices.usadcm@glas.agency. General questions concerning the redemption may be directed to the Company's investor relations team at ir@nextnav.com.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of, any of the Company's securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the securities laws of any such state or other jurisdiction.
About NextNav
NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements include, but are not limited to, statements regarding the redemption of the Notes. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the risks set forth under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of the Company’s most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of the Company’s Quarterly Reports on Form 10-Q and in the Company’s other filings with the U.S. Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to the Company on the date hereof. NextNav undertakes no duty to update this information unless required by law.
