Solus-Backed TerreStar Weighs Options for Spectrum Holdings (1)

TerreStar Corp. has hired a financial adviser to explore strategic alternatives for the 5G airwaves within its medical division, according to people familiar with the matter.

The company, majority-owned by Solus Alternative Asset Management, is weighing options to monetize the spectrum, either by refinancing debt or going public through a merger with a special purpose acquisition company, the people said. It could also seek investment from a private equity firm or a large telecommunications company, they added.

TerreStar got permission from the U.S. Federal Communications Commission last year to use its wireless airwaves in medical facilities, and potentially to ...