AST SpaceMobile (NASDAQ: ASTS) is building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications. Earlier this year, the company closed $460.0 million in aggregate principal of convertible senior notes due 2032 (the “notes”), including the full exercise of the option granted for the purchase of up to $60.0 million in aggregate principal of the notes.
“This successful financing enables us to accelerate our mission of delivering the world’s first space-based cellular broadband network,” said Abel Avellan, founder, chairman and CEO of AST SpaceMobile. “With nearly $1 billion in cash on our balance sheet, we are now equipped to fast-track the production and launch of our revolutionary network.”
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About AST SpaceMobile Inc.
AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio and designed for both commercial and government applications. AST engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, visit ASTScience.com.
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