Frischer Amends NextNav Stake Filing
Ticker: NXNVW · Form: SC 13D/A · Filed: Apr 15, 2024 · CIK: 1865631
| Field | Detail |
|---|---|
| Company | Nextnav INC. (NXNVW) |
| Form Type | SC 13D/A |
| Filed Date | Apr 15, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $3,007,725, $2.16, $11.50, $3 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: NN
TL;DR
Frischer updated his NextNav ownership filing, watch for any changes in his stake.
AI Summary
Charles L. Frischer, a significant shareholder of NextNav Inc., has filed an amendment (Amendment No. 2) to his Schedule 13D on April 12, 2024. This filing indicates a change in his beneficial ownership of the company's common stock. Frischer previously operated under the name Spartacus Acquisition Shelf Corp. before changing his name on June 3, 2021.
Why It Matters
Schedule 13D filings are crucial for investors as they disclose significant ownership changes, potentially signaling shifts in control or strategy for the company.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or shifts in investor sentiment, requiring careful monitoring.
Key Players & Entities
- Charles L. Frischer (person) — Filer of Schedule 13D/A
- NextNav Inc. (company) — Subject company
- Spartacus Acquisition Shelf Corp. (company) — Former company name for filer
FAQ
What is the specific change in beneficial ownership being reported in this amendment?
The filing is an amendment (Amendment No. 2) to a Schedule 13D, indicating a change in beneficial ownership, but the exact percentage or number of shares is not detailed in the provided text.
When was the previous filing or significant event related to this Schedule 13D?
The filing is an amendment, implying previous filings exist. The date of the event requiring this filing is April 12, 2024.
What was the former name of the entity associated with Charles L. Frischer?
The former name was Spartacus Acquisition Shelf Corp., with a date of name change to NextNav Inc. on June 3, 2021.
What is the business address of NextNav Inc.?
The business address of NextNav Inc. is 1775 Tysons Blvd., 5th Floor, McLean, VA 22102.
What is the CUSIP number for NextNav Inc. common stock?
The CUSIP number for NextNav Inc. common stock is 65345N106.
Filing Stats: 991 words · 4 min read · ~3 pages · Grade level 7.1 · Accepted 2024-04-15 11:36:23
Key Financial Figures
- $0.0001 — INC. (Name of Issuer) Common Stock, $0.0001 par value per share (Title of Class o
- $3,007,725 — 2024 for an aggregate purchase price of $3,007,725. Mr. Frischer used his personal funds a
- $2.16 — ts exercisable for Shares at a price of $2.16 per share, warrants exercisable for Sha
- $11.50 — ts exercisable for Shares at a price of $11.50 per share, and options exercisable for
- $3 — ons exercisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per
- $4,00 — rcisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Acc
- $5 — e for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordi
- $7.00 — hares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assu
- $10.00 — rices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assuming exerci
Filing Documents
- e663521_sc13da-nextnav.htm (SC 13D/A) — 39KB
- 0001193805-24-000531.txt ( ) — 40KB
Source and Amount of Funds of Other Consideration
Item 3.Source and Amount of Funds of Other Consideration.
is amended by
Item 3 is amended by adding the following: Charles Frischer purchased 1,178,400 Shares in the aggregate from March 20, 2024 through April 12, 2024 for an aggregate purchase price of $3,007,725. Mr. Frischer used his personal funds and funds in his IRA to acquire these Shares.
Interest of Securities of the Issuer
Item 5.Interest of Securities of the Issuer.
is amended by adding the following
Item 5 is amended by adding the following: (a) and (b) Beneficial ownership As of the date of this Amendment No. 2 to Schedule 13D, Mr. Frischer directly or through his IRA owns 8,725,583 Shares, which includes warrants exercisable for Shares at a price of $2.16 per share, warrants exercisable for Shares at a price of $11.50 per share, and options exercisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assuming exercise of all warrants and options, Mr. Frischer owns 8,725,583 Shares representing approximately 7.8% of the total outstanding Shares. The percentages set forth above and on the cover page hereto represent the percentage of the outstanding Shares based on a total of 111,189,983 Shares outstanding as of March 8, 2024, which amount is derived from amount reported in the Issuer’s Annual Report on Form 10-K for the period ended December 31, 2023. (c) Transactions during the past sixty days Information with respect to the Reporting Person’s transactions effected during the past 60 days are set forth on Annex A hereto. (d) Right to receive dividends or proceeds Not applicable. (e) Beneficial Not applicable. CUSIP No. 65345N106 13D Page 4 of 5 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Pursuant to Rule 13d-1(k), this Schedule 13D is filed on behalf of the Reporting Person. Dated as of: April 15, 2024 /s/ Charles Frischer Charles Frischer Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). CUSIP No. 65345N106 13D Page 5 of 5 ANNEX A Schedule of Transactions in Common Shares of the Issuer During the Past 60 Days Date of Transaction Quantity Purchased Price per Share 4/12/24 3/25/24 3/21/24 3/20/24 14,000 4,000 7,400 5,100 7.36 6.44 5.10 4