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 shares, with proceeds earmarked to repurchase $135 million of its outstanding 4.25% convertible senior notes, eliminating roughly $37.8 million in future interest. Roth Capital Partners acted as co-manager for the offering.
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About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s approximately five billion mobile subscribers and finally bring broadband to the billions who remain unconnected.
For more information, please visit our website at https://ast-science.com/
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