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Lynk Signs Letter of Intent to Become Publicly-Listed, Leading Satellite-to-Phone Company Through a Business Combination with Slam Corp.

Lynk has proven two-way sat2phone connectivity on all seven continents, including SMS, emergency alerts, voice calls, and data, and is scaling to provide coverage everywhere on Earth at broadband speeds

December 18, 2023

Lynk Global, Inc. and Slam Corp.  announced that they have signed a non-binding letter of intent (“LOI”) for a potential business combination. Under the terms of the LOI, the combined company (the "Combined Company") would operate as Lynk Global, Inc. and its common stock and warrants are expected to be listed on Nasdaq under the ticker symbol “LYNK” and “LYNKW,” respectively.

Lynk was founded in 2017 by Charles Miller, President and CEO; Margo Deckard, COO; and Tyghe Speidel, CTO. Lynk’s proprietary technology created the sat2phone category, which encompasses products and services that leverage mobile phones. It designs, builds, and operates proprietary “cell-tower-in-space” satellites that provide direct-to-standard-phone connectivity and global coverage. Lynk believes it is the world’s only patented, proven, and commercially licensed sat2phone system. Lynk 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 partners with wireless providers and mobile network operators (“MNOs”) to deliver connectivity to their customers through their existing mobile devices.

"Lynk was created with the mission to connect everyone, everywhere by providing affordable connectivity to billions globally using the phones already in their pockets," stated Lynk CEO, Charles Miller. "In effect, 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."

Alex Rodriguez, Chief Executive Officer of Slam, said, "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. 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."

Lynk and Slam intend to finalize their definitive business combination agreement (the “Business Combination”) in the coming weeks and will announce additional details at that time. Based on the LOI, the Combined Company is expected to be valued at no less than $800 million upon listing, subject to current market conditions. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.

Lynk Investment Highlights

Patented and Proven Technology

Lynk believes it is the world's only patented, proven, and commercially licensed satellite-direct-to-standard-phone system.

Lynk technology is compatible with any unmodified cellular device from 2G to 5G, and positioned for compatibility with future generations of devices.

Successfully launched three commercial satellite cell towers in space and has begun operations in four countries.

Lynk’s technology has been tested and proven in over 25 countries and on all seven continents.

Lynk has signed 35 commercial contracts to provide coverage in approximately 50 countries.

Attractive Satellite Communications Market Opportunity 

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.1

Satellite-direct-to-device is a new category within satellite communications that analysts estimate could grow to become “the largest opportunity in satcom’s history.”2

Approximately 750 million of the 5.4 billion existing mobile phone users are not connected on average at any point in time due to being in "coverage black spots."

Traditional mobile cell coverage is limited by the economics of building and operating traditional ground-based cell towers, making it cost-prohibitive to expand mobile cell coverage into remote areas lacking coverage.

Satellite cell towers are approximately four orders of magnitude lower in operating expense per square mile than traditional ground-based cell towers. This allows satellite cell towers to affordably fill in black spots and lower the pricing of ground-based cell towers.

Clear Growth Trajectory with MNOs

Lynk partners with MNOs around the world to offer 100% geographic coverage in their territory by integrating seamlessly with their existing network.

Lynk believes sat2phone services could drive 40% top-line growth in the mobile wireless market from today’s $1 trillion per year to $1.4 trillion annually.

These estimates represent $150 billion annually from “everywhere connectivity” for the 5.4 billion existing mobile customers, and approximately $250 billion annually from new customers who buy their first mobile device once guaranteed coverage is in place.

Experienced and Proven Management

Lynk leadership represents the best of the space, telecoms, and satellite industries.

Average of 32 years of experience in the space and telecoms industries, in both the public and private sectors.

Three Lynk co-founders lead the c-suite.

Proprietary network of advisors with deep expertise and experience across satellite, telecoms, and technology industries.




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