The firms have signed a non-binding letter of intent for a potential business combination. The subsequent combined company would operate as Lynk Global, and its common stock and warrants are expected to be listed on Nasdaq under the ticker symbol ‘LYNK’.
Lynk’s proposition removes the need for a relay between the satellite, base station and device and provides connectivity directly from the satellite to handsets.
Lynk and Slam intend to finalise the agreement in the coming weeks and will announce more once that’s happened. The combined company is expected to be valued at ‘no less than $800 million’ upon listing.
“Lynk was created with the mission to connect everyone, everywhere by providing affordable connectivity to billions globally using the phones already in their pockets,” said Lynk CEO Charles Miller. “In effect, we’ve created a new category, and our operational technology requires no change to consumers’ phones while delivering services with immense lifesaving implications. As a public company, we will have access to greater capital to take advantage of the satellite-direct-to-device opportunity, bringing these services to even more people and truly ending the era of the disconnected.”
