Lynk seeks IPO
December 18, 2023
By Chris Forrester
A blank-cheque SPAC company set up by former New York Yankees all-star Alex Rodriguez is planning to merge with satellite communications provider Lynk Global, according to Bloomberg.
Slam Corp, a special purpose acquisition company, has reportedly signed a letter of intent to merge with Lynk, with the combined company expected to list on the Nasdaq stock exchange.
The company is expected to be valued at no less than $800 million (€732.6m) upon the closing of the transaction, according to people.
Lynk, which has as its mission statement “Connecting the world, 2.5 billion people” is already active in securing relationships for its satellite-based system. Vodafone’s Cook Islands system signed up in August.
Lynk claims to be the world’s only patented, proven, and commercially licensed satellite-direct-to-standard-mobile-phone system (sat2phone). Its service has been demonstrated and is currently being deployed in more than 20 countries with >30 MNO commercial service contracts covering >50 countries. Lynk says it is unique in successfully sending and receiving text messages to and from space via standard unmodified mobile devices. Lynk’s network, currently providing cell broadcast (emergency) alerts and two-way SMS messaging, is claimed to be compatible with every existing mobile phone on the planet. In the future, Lynk will launch voice and mobile broadband services.
Lynk is challenged by a number of rivals. Apple, for example, is expanding its existing SMS/emergency service with Globalstar, while Starlink is just beginning to launch its satellite cellular service.