Warrants and Warrant Liability	3 Months Ended
Mar. 31, 2026
Warrants and Warrant Liability
Warrants and Warrant Liability	9. Warrants and Warrant Liability As of March 31, 2026, NextNav had 37,137,806 warrants outstanding, which includes: (a) 14,714,169 public warrants associated with Spartacus Acquisition Corp.’s (“Spartacus”) initial public offering (the “Public Warrants”), (b) 4,034,790 warrants issued to Spartacus Sponsor LLC in a private placement on the initial public offering closing date (the “Private Placement Warrants”), (c) 10,588,847 2026 Warrants (as further described in Note 8) and (d) 7,800,000 2028 Warrants (as further described in Note 8). The Private Placement Warrants are classified as a liability on the Company’s Condensed Consolidated Balance Sheet as of March 31, 2026. During the three months ended March 31, 2026 and March 31, 2025, zero and 205,402 Private Placement Warrants were reclassified from liability to equity (Public Warrants), respectively, as the terms that initially precluded equity classification were no longer applicable. Accordingly, the Company reclassified $0 and $1.2 million, respectively, from warrant liability to additional paid-in capital on its Condensed Consolidated Balance Sheet as of March 31, 2026 and March 31, 2025. Holders of the Public Warrants, Private Placement Warrants, 2026 Warrants and 2028 Warrants are entitled to acquire shares of common stock of NextNav. With respect to the Public Warrants and Private Placement Warrants, each whole warrant entitles the registered holder to purchase one share at an exercise price of $11.50 per share. The Public Warrants and Private Placement Warrants expire on October 28, 2026. NextNav has the right to redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sales price of the Company’s common stock matched or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which NextNav sends the notice of redemption to the warrant holders. The Private Placement Warrants are identical in all respects to the Public Warrants except that, so long as they are held by the current holder or its permitted transferees: (i) they will not be redeemable by NextNav; (ii) they may be exercised by the holders on a cashless basis; and (iii) they are subject to registration rights.

Warrants and Warrant Liability

3 Months Ended

Mar. 31, 2026

9. Warrants and Warrant Liability

As of March 31, 2026, NextNav had 37,137,806 warrants outstanding, which includes: (a) 14,714,169 public warrants associated with Spartacus Acquisition Corp.’s (“Spartacus”) initial public offering (the “Public Warrants”), (b) 4,034,790 warrants issued to Spartacus Sponsor LLC in a private placement on the initial public offering closing date (the “Private Placement Warrants”), (c) 10,588,847 2026 Warrants (as further described in Note 8) and (d) 7,800,000 2028 Warrants (as further described in Note 8).

The Private Placement Warrants are classified as a liability on the Company’s Condensed Consolidated Balance Sheet as of March 31, 2026. During the three months ended March 31, 2026 and March 31, 2025, zero and 205,402 Private Placement Warrants were reclassified from liability to equity (Public Warrants), respectively, as the terms that initially precluded equity classification were no longer applicable. Accordingly, the Company reclassified $0 and $1.2 million, respectively, from warrant liability to additional paid-in capital on its Condensed Consolidated Balance Sheet as of March 31, 2026 and March 31, 2025.

Holders of the Public Warrants, Private Placement Warrants, 2026 Warrants and 2028 Warrants are entitled to acquire shares of common stock of NextNav. With respect to the Public Warrants and Private Placement Warrants, each whole warrant entitles the registered holder to purchase one share at an exercise price of $11.50 per share. The Public Warrants and Private Placement Warrants expire on October 28, 2026.

NextNav has the right to redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sales price of the Company’s common stock matched or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which NextNav sends the notice of redemption to the warrant holders.

The Private Placement Warrants are identical in all respects to the Public Warrants except that, so long as they are held by the current holder or its permitted transferees: (i) they will not be redeemable by NextNav; (ii) they may be exercised by the holders on a cashless basis; and (iii) they are subject to registration rights.