Satellite Communications Innovator Lynk Global to Go Public via Slam Corp. Merger

Written by Copernical Team Tuesday, 19 December 2023 03:47

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Los Angeles CA (SPX) Dec 19, 2023

Lynk Global, Inc., a leader in satellite-to-phone communications, and Slam Corp. (NASDAQ: SLAM), a special purpose acquisition company, have embarked on a significant step towards merging. The two companies have signed a non-binding letter of intent (LOI) for a potential business combination. This move, once finalized, is set to list Lynk Global, Inc. as a publicly-traded entity under the ticker

Satellite Communications Innovator Lynk Global to Go Public via Slam Corp. Merger
by Clarence Oxford
Los Angeles CA (SPX) Dec 19, 2023

Lynk Global, Inc., a leader in satellite-to-phone communications, and Slam Corp. (NASDAQ: SLAM), a special purpose acquisition company, have embarked on a significant step towards merging. The two companies have signed a non-binding letter of intent (LOI) for a potential business combination. This move, once finalized, is set to list Lynk Global, Inc. as a publicly-traded entity under the ticker symbols "LYNK" for common stock and "LYNKW" for warrants on Nasdaq.

Founded in 2017 by a visionary team including Charles Miller (President and CEO), Margo Deckard (COO), and Tyghe Speidel (CTO), Lynk has carved a niche in the telecommunications sector with its groundbreaking sat2phone technology. This proprietary system, widely recognized as the first of its kind, operates by utilizing "cell-tower-in-space" satellites. These satellites enable direct connectivity to standard mobile phones, offering global coverage without the need for any additional hardware on the consumer's end.

Lynk's innovative approach has led to the successful demonstration of two-way sat2phone connectivity across all seven continents. This encompasses a range of services including SMS, emergency alerts, voice calls, and data. The company is now in the process of scaling its technology to provide ubiquitous service at broadband speeds. A key aspect of Lynk's strategy involves partnering with wireless providers and mobile network operators (MNOs) to deliver this connectivity seamlessly to customers through their existing mobile devices.

Charles Miller, CEO of Lynk, emphasizes the company's mission: "Lynk was created with the mission to connect everyone, everywhere by providing affordable connectivity to billions globally using the phones already in their pockets." He further adds, "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."

Alex Rodriguez, CEO of Slam, lauded Lynk's technological prowess and global platform, which aligns perfectly with Slam's investment criteria. "Lynk has built a truly global platform that is set to revolutionize the satellite-direct-to-phone sector," Rodriguez stated. He acknowledged Lynk's impressive scalability and its potential to provide broadband access to billions currently underserved in mobile connectivity.

The proposed business combination is still in its formative stages, with both Lynk and Slam working towards finalizing their definitive agreement in the near future. While the LOI suggests a valuation of no less than $800 million for the Combined Company upon listing, it's important to note that the final agreement and the consummation of the proposed transaction are subject to current market conditions and various approvals. This announcement comes at a time when the satellite communications sector is witnessing rapid evolution, primarily driven by advancements in low Earth orbit (LEO) satellite technologies.