Lynk Global Makes Key CEO and CFO Appointments in Partnership with Slam Corp.
Appointments coincide with new capital investments on path to proposed public company listing
These appointments received unanimous approval following a search led by the Lynk Board in partnership with the leadership of
Potarazu and Fay each bring decades of experience building satellite and technology companies, executing transformative strategic, commercial, and capital markets transactions, raising and deploying capital, and executing growth initiatives in both the public and private markets.
During his career, Potarazu spent over 20 years in various capacities in both the satellite and new technology industries. Additionally, he also has 15 years of experience as Chief Executive Officer in venture-backed technology and content companies where he drove growth, institutionalized talent bases and led key strategic transactions including significant capital raises. He has served as director on the boards of several public companies, assuming various governance roles and leading M&A initiatives over the past decade.
“I believe Lynk’s patented technology has redefined the future of the satellite and telecommunications industries by developing proprietary satellite technologies, connectivity capabilities and seamless solutions that can connect everyone, everywhere,” said Potarazu. “From 2G, to 5G and to the next frontier, the goal is for Lynk to be at the forefront of satellite-to-device technology. We believe Lynk is well-positioned, with a solid foundation with 45 commercial contracts to provide coverage in approximately 50 countries as of today. I am excited to partner with Lynk’s talented team, dedicated Board, and global customers to lead the Company through this important growth phase. Together, we will seek to capitalize on the
Fay brings more than 20 years of experience building corporate financial functions and optimizing capital structures for strategic growth in both satellite and technology companies. He spent the past 10 years, serving as a founding executive member and deputy CFO of OneWeb, a global low earth orbit (LEO) satellite communications company, where he led all finance and early-stage business operations, as well as securing debt and equity financing from strategic investors. Prior to OneWeb, Fay was with
“I am thrilled to join Lynk and further the Company’s efforts to deliver innovative and responsive communications solutions across the public and private sectors,” said Fay. “We see a clear path to organize our financial functions for execution, scale and, eventually, profitability. We are focused on accessing the requisite capital to achieve both near-term and long-term strategic initiatives. I am in lockstep with Ramu and the management team in our pursuits to strengthen our commercial efforts and further establish Lynk as a global leader for direct-to-device satellite communications.”
About Lynk
Lynk is a patented, proven, and commercially-licensed satellite-direct-to-standard-mobile-phone system. Today, Lynk allows commercial subscribers to send and receive text messages to and from space via standard unmodified, mobile devices. Lynk’s service has been tested and proven on all seven continents, has regulatory approvals in more than 30 countries and is currently being deployed commercially based on more than 40 MNO commercial service contracts covering approximately 50 countries. Lynk is currently providing cell broadcast (emergency) alerts, and two-way SMS messaging, and intends to launch voice and mobile broadband services in the future. For more information, visit www.lynk.world.
Transaction update
In
Upon the closing of the Business Combination, the new combined company will be named
Additional Information about the Transaction and Where to Find It
This press release relates to the business combination involving Lynk, Slam,
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SLAM’S SHAREHOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY AMENDMENTS THERETO AND ANY OTHER DOCUMENTS FILED BY SLAM OR TOPCO WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION OR INCORPORATED BY REFERENCE THEREIN IN THEIR ENTIRETY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS COMBINATION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION.
After the Registration Statement is declared effective, the definitive proxy statement will be mailed to shareholders of Slam as of a record date to be established for voting on the Business Combination. Additionally, Slam and Topco will file other relevant materials with the
No Offer or Solicitation
This press release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. The Business Combination will be implemented solely pursuant to the BCA, filed as an exhibit to the Current Report on Form 8-K filed by Slam with the
Participants in the Solicitation of Proxies
This press release may be deemed solicitation material in respect of the Business Combination. Slam, Lynk, Topco, Merger Sub 1, Merger Sub 2 and certain of their respective directors and officers may be deemed participants in the solicitation of proxies from Slam’s shareholders in connection with the Business Combination. Slam’s shareholders and other interested persons may obtain, without charge, more detailed information regarding the names and interests in the Business Combination of Slam’s directors and officers in Slam’s filings with the
Cautionary Statement Regarding Forward-Looking Statements
Certain statements made in this press release, and oral statements made from time to time by representatives of Slam, Topco and Lynk are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as “estimate,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “potential,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the benefits of a new management team and statements regarding the financial position, business strategy and the plans and objectives of management for future operations including as they relate to the Business Combination and related transactions, including any anticipated financing, pricing and market opportunity, the satisfaction of closing conditions to the Business Combination and related transactions, the level of redemptions by Slam’s public shareholders and the timing of the completion of the Business Combination, including the anticipated closing date of the Business Combination and the use of the cash proceeds therefrom. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Slam’s, Topco’s and Lynk’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
The forward-looking statements involve significant risk and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, among others, the following: (1) the inability of the parties to successfully or timely consummate the Business Combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Business Combination; (2) satisfaction or waiver (if applicable) of the conditions to the Business Combination, including with respect to the approval of the shareholders of Slam; (3) the ability to obtain approval to list the combined company’s securities on an approved stock exchange; (4) the risk that the Business Combination disrupts current plans and operations of Slam or Lynk as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) uncertainty of the costs related to the Business Combination; (7) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the Business Combination; (8) the possibility that Slam and Lynk may be adversely affected by other economic, business, and/or competitive factors; (9) the outcome of any legal proceedings that may be instituted against Slam, Topco or Lynk or any of their respective directors or officers, following the announcement of the Business Combination; (10) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated shareholder redemptions and purchase price and other adjustments; (11) risks related to domestic and international political and macroeconomic uncertainty, including the
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Lynk
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