AST SpaceMobile, Inc. - Class A Common Stock (ASTS)
18.21
+0.49 (2.77%)
Ast Spacemobile Inc is a pioneering telecommunications company focused on building a global network of low Earth orbit satellites designed to provide cellular connectivity directly to mobile devices
Their innovative technology aims to bridge the coverage gap in rural and remote areas, allowing users to access mobile services without needing traditional ground infrastructure. By leveraging satellite technology, Ast Spacemobile seeks to enhance communication capabilities, making mobile connectivity universally accessible and enabling seamless connectivity for customers around the world.
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced the closing of $460.0 million aggregate principal amount of convertible senior notes due 2032 (the “notes”) including the exercise in full of the option granted to the initial purchasers to purchase up to $60.0 million aggregate principal amount of notes.
President Trump's recent inauguration remarks about space exploration has heightened industry enthusiasm and highlighted potential growth opportunities.
The company expects to raise net proceeds of $387.9 million from the offering and use a bulk of it for working capital and general corporate purposes, including strategic acquisitions.
AST SpaceMobile Inc (NASDAQASTS) shares are tumbling Thursday after the company announced the pricing of a proposed offering of convertible senior notes.
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, today announced the pricing of $400.0 million aggregate principal amount of convertible senior notes due 2032 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
AST SpaceMobile shares are falling in Wednesday's after-hours session after the space-based cellular broadband network company announced a proposed private offering.
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, today announced its intent to offer, subject to market conditions and other factors, $400.0 million aggregate principal amount of convertible senior notes due 2032 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). AST SpaceMobile also intends to grant the initial purchasers of the notes in the offering an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $60.0 million aggregate principal amount of notes.
