Grain Management to sell nationwide 800 MHz spectrum portfolio to SpaceX

What the agreement covers

Grain Management, LLC, an investment firm specializing in digital infrastructure, said SpaceX will acquire the entirety of its nationwide 800 MHz spectrum portfolio. The deal is subject to approval by the FCC and other customary closing conditions. The source does not disclose a price or a closing date.

Grain says the agreement puts scarce low-band spectrum to use for next-generation satellite direct-to-device (D2D) services. The stated aim is to enable Starlink Mobile to serve customers from both the ground and space.

The firm described the transaction as a landmark deal that directs low-band spectrum to its "highest and best use" in support of federal connectivity goals and the convergence of mobile and space-based connectivity.

How Grain obtained the spectrum

Grain acquired the nationwide 800 MHz portfolio from T-Mobile in August 2026. According to the company, it paid with cash and its own 600MHz spectrum. It then pursued multiple use cases intended to expand connectivity for American consumers and create value for the industry and Grain's investors.

The sale to SpaceX follows from that approach. Grain says it combines sector experience, strategic insight and capital to unlock spectrum value and help operators meet changing connectivity needs.

"For nearly twenty years, we have built Grain to see opportunity where others see complexity," said David Grain, Founder and Chief Executive Officer of Grain Management. He added that the agreement with SpaceX has "the potential to change where and how Americans connect."

Regulatory backdrop

Grain says the agreement advances the objectives of the FCC's July 2026 order approving its acquisition from T-Mobile. According to the company, that order established a competitive selection process and a conditional pathway for D2D deployment.

The company also says the transaction aligns with the Commission's efforts to expand coverage, encourage satellite and terrestrial network integration, and promote productive spectrum use. The sale itself still needs FCC approval before it can close.

What it means

If approved, the deal would give SpaceX a nationwide block of low-band spectrum for Starlink Mobile's direct-to-device plans, according to Grain's description of the agreement. David Grain said that as terrestrial and space-based networks converge, the firm sees "a new horizon globally for our spectrum strategy."

Grain, founded in 2007, invests across fiber networks, data centers, wireless spectrum, cell towers, and managed and infrastructure services. BDT & MSD Partners served as its financial advisor, Milbank as legal counsel, and Latham & Watkins as regulatory counsel.