NextNav Closes Acquisition of Additional Lower 900 MHz Band Licenses to Enhance 3D PNT Solution

NextNav Inc. (NASDAQ:NN) is one of the best growth stocks to buy now. On September 25, NextNav announced the successful closing of an agreement to acquire additional Lower 900 MHz band licenses. The licenses were acquired from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation. This transaction enhances NextNav’s spectrum position and operational leadership within the Lower 900 MHz band.

This closing followed an earlier action by the Federal Communications Commission/FCC. Specifically, on June 20 this year, the FCC issued an order granting its consent to the assignment of 128 active M-LMS A-block licenses to NextNav. These acquired active low-band spectrum licenses operate in the same Lower 900 MHz band as all of NextNav’s existing licenses.

By using this licensed low-band spectrum and the global 5G ecosystem, NextNav is positioned to deliver an accurate, reliable, and resilient 3D PNT solution. The solution is intended to act as a wide-scale terrestrial complement and backup to GPS, protecting national security, public safety, and the economy.

NextNav Inc. (NASDAQ:NN) provides positioning, navigation, and timing/PNT solutions in the US. The company serves Wi-Fi, telecom, public safety, location apps, and critical infrastructure industries.

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Disclosure: None. This article is originally published at Insider Monkey.