TechMediaBreaks – AST SpaceMobile, Inc. (NASDAQ: ASTS) Closes $575 Million Convertible Senior Notes Offering
AST SpaceMobile (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, closed $575 million in aggregate principal amount of convertible senior notes due 2032, including the full exercise of the purchasers’ option for $75 million. The financing boosts company resources to more than $1.5 billion in cash. The notes carry a seven-year maturity and an effective conversion price of $120.12 per share, supported by a capped call hedge that limits dilution to less than 1.5% at that level. AST SpaceMobile also announced a separate registered direct offering of about 5.8 million…