NextNav (NASDAQ: NN) has recently filed a rulemaking petition with the Federal Communications Commission (FCC) to rearrange the lower 900 MHz band, specifically the 902-928 MHz band. This move is aimed at facilitating a terrestrial positioning, navigation, and timing (PNT) network and broadband, with the company seeking to enable a high-quality terrestrial complement and backup to the Global Positioning System (GPS) and provide 15 megahertz of low-band spectrum for use by mobile broadband networks.
With the recent court approval of the acquisition of spectrum licenses covering an additional 4 MHz in the lower 900 MHz band from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation, NextNav is positioned to move forward with obtaining FCC approval. The company is already the main geographic licensee in the lower 900 MHz band and has used its existing licenses to develop industry-leading PNT expertise and products.
The proposed new band plan is set to enable a terrestrial PNT service to serve as a much-needed backup and complement to GPS, addressing the vulnerability of GPS to attack through jamming, spoofing, and other targeting events. Furthermore, the modernized lower 900 MHz band plan creates access to 15 MHz of low-band spectrum for 5G services, with NextNav expecting to partner with mobile network operators or others interested in commercial deployment in the band for 5G.
NextNav's plan is to leverage NextGen PNT technology and network with 5G, providing a 3D positioning solution with single-digit accuracy, available indoors as well as outdoors, and in urban corridors, while also providing wireless distribution of precise, resilient timing.
Following these announcements, the company's shares moved 12.8%, and are now trading at a price of $7.96. For more information, read the company's full 8-K submission here.
