Under the terms of the agreement, the combined company would operate as Lynk Global
Satellite-direct-to-standard-phone (sat2phone) telecoms provider Lynk and Slam, a special purpose acquisition company, announced that they have signed a non-binding letter of intent for a potential business combination.
Under the terms of the agreement, the combined company would operate as Lynk Global and its common stock and warrants are expected to be listed on Nasdaq.
Lynk designs, builds, and operates proprietary “cell-tower-in-space” satellites that provide direct-to-standard-phone connectivity and global coverage. The company was recently involved in Canada’s first satellite-to-mobile phone call in a trial with Rogers, which tested SMS, data and emergency alerting services with a Samsung S22 smartphone.
Lynk also said it has proven two-way sat2phone connectivity on all seven continents, including SMS, emergency alerts, voice calls and data and is scaling to provide ubiquitous service at broadband speeds.
“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. “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.”
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“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,” said Alex Rodriguez, CEO of Slam.
“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,” Rodriguez added.
Lynk and Slam intend to finalize their definitive business combination agreement in the coming weeks. Based on the initial agreement, the combined company is expected to be valued at no less than $800 million upon listing.
Lynk noted it has signed 35 commercial contracts to provide coverage in approximately 50 countries.
The company also highlighted that satellite communications represent approximately $14 billion of the broader global connectivity market valued at more than $1 trillion annually, growing at a 12% CAGR through 2030 to approximately $35 billion.