Lynk Global, which specialises satellite-direct-to-phone connectivity, intends to join forces with ‘special purpose acquisition company’ Slam in order to take the company public.

Andrew Wooden

December 19, 2023

2 Min Read

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.”

Alex Rodriguez, CEO of Slam, added: “Lynk has built a truly global platform that is set to revolutionize the satellite-direct-to-phone sector. Since Slam’s listing, we have sought to partner with a company beyond providing capital, through operational support, commercial network expansion, and brand amplification. Lynk is a perfect fit for our investment criteria. We are impressed by its innovative technology and proven ability to scale. The Combined Company is positioned to make a tremendous global impact, potentially providing broadband access to billions of people currently underserved by a lack of mobile connectivity.”

However the announcement stipulates: ‘There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.’

The Federal Communications Commission granted Lynk what it said is the world’s first commercial license granted for a satellite-direct-to-phone service in September last year.

Miller appeared on the podcast earlier this year explaining the firm’s ambitions, which you can get here.  

About the Author(s)

Andrew Wooden

Andrew joins on the back of an extensive career in tech journalism and content strategy.

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