K&L Gates, Hogan Lovells Guide GPS Biz In $1.2B SPAC Deal

Law360 (June 10, 2021, 6:05 PM EDT) -- GPS maker NextNav said Thursday it plans to go public at a valuation of roughly $1.225 billion through a merger with a blank-check company, in a deal led by K&L Gates LLP and Hogan Lovells.

NextNav makes GPS navigation systems for public safety, e911, mass-market consumer apps, unmanned aerial vehicles and autonomous vehicles. The company says it is also working on an encrypted network.

As a blank-check company, or special purpose acquisition company, Spartacus Acquisition Corp. raised money with the end goal of taking the private company public.

​​Spartacus CEO Peter Aquino said in a press release the deal should drive...

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