SCHEDULE: Samberg Increases NextNav Stake to Over 10%

Joseph D. Samberg and his affiliated entities have increased their beneficial ownership in NextNav Inc. to 10.09% of outstanding common stock, triggering Section 16 reporting requirements.

Summary

• Joseph D. Samberg and affiliated entities now beneficially own 13,755,600 shares of NextNav Inc. common stock.
• This represents 10.09% of the company's outstanding common stock.
• The increase in ownership was primarily due to the purchase of Public Warrants exercisable for 500,000 shares of Common Stock by entities controlled by Mr. Samberg.
• The total beneficial ownership includes 1,500,000 shares issuable upon the exercise of publicly traded warrants with an exercise price of $11.50 per share, expiring on October 28, 2026.
• The Joseph D. Samberg Revocable Trust directly holds 9,745,600 shares and warrants for 1,400,000 shares, representing 8.18% of the class.
• Entities controlled by Mr. Samberg directly hold 2,510,000 shares and warrants for 100,000 shares.
• The filing of this Amendment No. 5 to Schedule 13G was triggered on November 21, 2025, when Mr. Samberg's aggregate beneficial ownership exceeded 10%, making him subject to Section 16 of the Securities Exchange Act of 1934.
• The percentage of class is based on 136,329,088 shares of Common Stock outstanding, which includes 134,829,088 shares reported as of November 3, 2025, plus the warrant shares.

Sentiment

Score: 7

Explanation: The increased stake by a notable investor, Joseph D. Samberg, to over 10% and the acquisition of additional warrants suggest a positive outlook on NextNav Inc.'s value and future performance. This indicates investor confidence, although the filing itself is a passive disclosure.

Positives

• A significant investor, Joseph D. Samberg, has increased his stake in NextNav Inc., potentially signaling confidence in the company's future.
• The acquisition of additional warrants suggests a belief in the stock's potential to rise above the $11.50 exercise price.

Risks

• The securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11, which limits the potential for activist investor actions.

Future Outlook

The filing does not provide forward-looking statements or guidance from NextNav Inc. It primarily details a change in beneficial ownership by an investor.

Management Comments

• I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing reflects an individual investor's increased stake in NextNav Inc., a company operating in the location technology sector. While it doesn't directly comment on industry trends, an increased stake by a significant investor can be viewed as a positive signal within the industry, suggesting confidence in the company's market position or future prospects.

Stakeholder Impact

• Shareholders: May view the increased stake by a significant investor as a positive signal, potentially boosting confidence in the stock.
• Management: The increased ownership by a substantial investor could lead to closer scrutiny or engagement, especially given the Section 16 reporting requirement.

Key Dates

Recommendation

While the increased stake by a significant investor like Joseph D. Samberg is a positive signal, indicating confidence in NextNav Inc.'s future, a Schedule 13G filing is a passive disclosure. It does not provide new operational or financial data to warrant an immediate 'buy' recommendation. Investors should 'hold' and monitor future company performance and any further actions by this significant shareholder, especially considering the warrant exercise price relative to the current stock price.

Keywords

NextNav Inc., NN, Joseph D. Samberg, Schedule 13G, Beneficial Ownership, Common Stock, Public Warrants, SEC Filing, Institutional Investor, Ownership Stake