Benzinga | Oct 7, 2021 07:01AM EDT

Starry, Inc. To Go Public In Business Combination With FirstMark Horizon Acquisition Corp

- Starry, Inc. ("Starry") delivers customers a high speed, fixed wireless broadband experience at a fraction of the cost of fiber through its unique, end-to-end technology stack

- Today, Starry's network covers more than 4.7 million U.S. households across six markets

- Starry is poised for rapid expansion and aims to cover 25 million households by 2026 with a projected 1.4 million residential and small business subscribers

- This $1.66 billion pro forma enterprise value transaction includes significant sponsor and shareholder alignment, with 75% of sponsor-held shares subject to either a performance-based earn-out or forfeiture

- The PIPE is anchored by leading institutional investors, strategic investors, and existing Starry investors including ArrowMark Partners, Atreides Management, Fidelity Management & Research Company LLC, and Tiger Global Management

- Investor presentation and management remarks to be posted at 7:30 AM ET on October 7, 2021 on the Starry investor page