The combined company is set to deliver Lynk’s innovative, patented technology, connecting over two billion people worldwide.
Lynk, a satellite-direct-to-standard-phone telecoms provider, and Slam Corp., a special purpose acquisition company, announced that they have entered into a definitive business combination agreement (the “Business Combination Agreement”) under which Slam will combine with Lynk. Upon completion, the combined company will operate as Lynk Global Holdings, Inc. and its common stock is expected to be publicly listed on Nasdaq under the ticker symbol “LYNK”.
Charles Miller, CEO of Lynk, said, “With technology proven on all seven continents, and 36 full commercial contracts with partners that currently provide coverage to hundreds of millions of subscribers in approximately 50 countries, Lynk has the potential to provide continuous wireless connectivity to billions of people around the world, using the unmodified phones they use today.”
Alex Rodriguez, CEO of Slam, said, “Lynk seeks to connect the world by extending cell coverage everywhere. We are thrilled to announce this business combination agreement, which positions the combined company to capitalize on the massive $1 trillion mobile wireless market as Lynk solves a core problem for the more than five billion cell phone users around the globe today. The combined company is set to deliver Lynk’s innovative, patented technology to areas that need it most and connect the more than two billion unconnected people worldwide.”
Lynk has engaged BTIG, LLC to raise additional capital before closing the business combination with Slam. Proceeds from the anticipated financing will be used to produce more satellites, secure launches, and support satellite design and operations. This is expected to include the continued development, manufacturing and launch of a constellation of Low-Earth Orbit satellites. The constellation will complement the three commercially licensed Lynk satellites currently in orbit and will enable global communications using radiofrequency spectrum licensed to mobile network operators (“MNO”) without hardware or software modification to existing standard cellphone technologies.
Charles Miller added, “Through our proposed business combination with Slam, we believe Lynk will be well-positioned to raise capital through several avenues. The capital we intend to raise will accelerate our growth as we execute our plan to launch many more ‘cell-towers-in-space’.”
