Grain Management, LLC, a global investment firm specialising in digital infrastructure, has announced a definitive agreement under which SpaceX will acquire 100% of Grain’s nationwide 800 MHz spectrum portfolio. The transaction is subject to FCC approval and other customary closing conditions.
The agreement utilises scarce low-band spectrum to support next-generation satellite direct-to-device (D2D) services, enabling Starlink Mobile to reach customers from both the ground and space. As Grain approaches its twentieth anniversary, the transaction demonstrates the firm’s ability to bring specialised capabilities, capital and execution to opportunities that can reshape communications at national scale.
“For nearly twenty years, we have built Grain to see opportunity where others see complexity,” said David Grain, the founder and chief executive officer of Grain Management. “Our spectrum expertise allows us to connect the strategic value of these assets with the technologies and operators that can realise their potential. This agreement with SpaceX brings that capability to bear at extraordinary scale, with the potential to change where and how Americans connect.”
Grain combines deep sector experience, strategic insight and capital to unlock spectrum value, advance its productive use, and help operators meet evolving connectivity needs. Grain’s acquisition of the nationwide 800 MHz portfolio from T-Mobile in August 2026 extends that approach – the firm acquired the portfolio in exchange for cash and Grain’s 600 MHz spectrum, then pursued multiple use cases that would expand connectivity for American consumers and create value for the industry, Grain’s investors, and the people whose futures they support.
“Spectrum is a finite resource with an expanding role in the economy,” Grain added. “As terrestrial and space-based networks converge, we see a new horizon globally for our spectrum strategy, building on our experience to address larger industry challenges and help shape the next generation of connectivity.”
The agreement also advances the objectives of the FCC’s July 2026 order approving Grain’s acquisition from T-Mobile, which established a competitive selection process and a conditional pathway for D2D deployment. This transaction aligns with the Commission’s efforts to expand coverage, encourage satellite and terrestrial network integration, and promote productive spectrum use.
