The Space Investor - 🚀 Lynk SPAC Merger Approved

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• The satellite-direct-to-standard-phone telecom provider finalized its definitive business combination with Alex Rodriguez's Slam Corporation on Monday morning at an $800M enterprise valuation.
   
• Lynk expects to generate $10M in revenue starting in Q2'25 on 38 operating satellites.
   
• The proceeds of the transaction were not disclosed, but we estimate Lynk will raise ~$110M following shareholder redemptions of 96% (ouch). The Company noted there is another capital raise expected.
   
• Upon completion expected in the second half of the year, the combined company will operate as Lynk Global Holdings, Inc. and will trade on the Nasdaq under ticker symbol $LYNK.
   

• The Company was awarded a "revenue-generating contract to perform certain tasks" on their space-based network in LEO.
   
• This initial firm-fixed-priced contract (amount undisclosed) will be supported by the BW3 satellite in orbit, along with the next five commercial satellites.
   
• Shares closed Thursday +22.1% higher and finished the week +20.7% overall. Quite the bounce back and good news that A-mob needed after hitting new 52-week lows the literal day before!
   

• $VSAT
  • Revenue: $1.1B, +73% YoY
  • Net Loss: $(124)M vs. $(74)M
  • Adj. EBITDA: $383M, +214% YoY
  • Backlog: $3.7B, +111% YoY
  • Shares: -18% 

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