Lynk Global, a leader in satellite direct-to-device telecommunications, today announced the mutual termination of its previously announced Business Combination Agreement (“BCA”) with SLAM Corp. (“SLAM”), a publicly traded special purpose acquisition company.

The BCA, originally executed in February 2024, contemplated a business combination between Lynk and SLAM. The parties have jointly agreed to terminate the agreement with immediate effect and have also reached a comprehensive settlement of all pending claims and counterclaims in the Delaware Court of Chancery.

“With the Delaware litigation resolved and the BCA mutually terminated, Lynk is now better positioned to pursue a broader set of strategic and commercial opportunities that were previously constrained by the agreement.

We remain fully focused on executing our long-term vision and, in partnership with the newly merged SES and our global MNO partners, accelerating our mission to deliver mobile connectivity to anyone, anywhere—directly from space,” said Ramu Potarazu, CEO of Lynk.

Source: BUSINESS WIRE