SpaceX Buys $8B Low-Band Spectrum to Power Starlink Mobile
SPCX sits 58% above its 52-week low of $104.83.
Summary
SpaceX agreed to acquire Grain Management's nationwide 800 MHz spectrum portfolio in a transaction worth about $8 billion. The airwaves previously belonged to T-Mobile; Grain acquired the portfolio in August in exchange for cash and its own 600 MHz spectrum. SpaceX shares closed Friday up 1.25% at $162.57 and rose another 1% pre-market Monday; T-Mobile fell 13.3%, AT&T 9.8%, Verizon 8.8%, while tower stocks rallied. The spectrum will support Starlink Mobile, combining terrestrial towers and rooftops with satellite connectivity. The FCC approved the Gen2 constellation application this week, authorizing 15,000 satellites optimized for 2 GHz spectrum. This follows the company's August disclosure of mobile services plans and positions SpaceX as a direct competitor to AT&T, T-Mobile, and Verizon. The deal is pending FCC approval.
Updated with a Wiseek News report · What changed
Updates
· Wiseek News — SpaceX shares closed Friday up 1.25% at $162.57 and rose another 1% pre-market Monday; T-Mobile fell 13.3%, AT&T 9.8%, Verizon 8.8%, while tower stocks rallied.
- SpaceX agreed to acquire Grain Management's nationwide 800 MHz spectrum portfolio in a transaction worth about $8 billion.
- The airwaves previously belonged to T-Mobile; Grain acquired the portfolio in August in exchange for cash and its own 600 MHz spectrum.
- Financial terms of the $8 billion transaction were not publicly disclosed.
At the time of this announcement, SPCX was trading at $165.44 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.2T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.