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RESTON, VA – Shams Sammaad, the Chief Accounting Officer of NextNav Inc. (NASDAQ:NN), recently sold a significant portion of the company’s stock, according to a recent SEC filing. The transaction comes as NextNav, currently valued at $1.55 billion, has seen its stock surge 150% over the past year, according to InvestingPro data. On March 17 and 18, Sammaad sold a total of 9,801 shares of common stock. The transactions took place at prices ranging from $11.06 to $11.54 per share, resulting in a total sale value of $111,778. The company maintains strong liquidity with a current ratio of 7.09, indicating robust short-term financial health.
The sales were conducted as part of a Rule 10b5-1 sales plan, which had been adopted on August 30, 2024. Some of the shares were sold to satisfy tax obligations upon the vesting of previously granted restricted stock units (RSUs).
Following these transactions, Sammaad retains ownership of 75,304 shares in the company.
In other recent news, NextNav Acquisition Corp reported its fourth-quarter 2024 earnings, showcasing a revenue of $1.9 million, which exceeded forecasts by $600,000. Despite this revenue beat, the company experienced a significant net loss of $32.3 million, largely due to a $14.9 million loss from warrant valuation. The full-year revenue reached $5.7 million, marking an increase of $1.8 million from the previous year. Additionally, NextNav has signed a $190 million note purchase agreement to support future growth initiatives. The company is actively advancing its 5G-based Positioning, Navigation, and Timing (PNT) technology while seeking FCC (BME:FCC) spectrum licenses. In terms of analyst actions, there were no reported upgrades or downgrades. Furthermore, NextNav is focusing on strategic collaborations to enhance its geolocation solutions, which are aimed at strengthening national security and public safety.
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