Latest news with #SpaceMobile
Business Wire
12 hours ago
- Business
- Business Wire
AST SpaceMobile Announces Closing of Private Offering of $575.0 Million of Convertible Senior Notes Due 2032
MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. (' AST SpaceMobile ') (NASDAQ: ASTS), 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 closing of $575.0 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 $75.0 million aggregate principal amount of notes. 'This successful financing meaningfully strengthens our company resources above $1.5 billion in cash, positioning us to scale quickly with the deployment of the world's first and only space-based cellular broadband network,' said Abel Avellan, Founder, Chairman, and CEO of AST SpaceMobile. Scott Wisniewski, AST SpaceMobile President, added: 'The notes pair a seven year maturity with an effective conversion price of $120.12 per share, balancing near-term funding needs with long-term shareholder value creation.' As part of the transaction, AST SpaceMobile purchased a capped call hedge to increase the effective conversion premium to 100% of the last reported sale price of AST SpaceMobile's Class A common stock on July 24, 2025. As a result of the related capped call transactions, dilution or cash obligations upon a conversion of the notes should be mitigated by the increase in the effective conversion price of the notes to $120.12 per share of AST SpaceMobile's Class A common stock. The effective dilution to existing shareholders would be less than 1.5% at the effective conversion price. AST SpaceMobile has the optionality to settle any conversions in cash, shares of its Class A common stock, or a combination of cash and shares to further influence potential dilution or cash obligations upon any future conversion of the notes. AST SpaceMobile also previously announced the pricing of a separate registered direct offering of approximately 5.8 million shares of its Class A common stock (the 'Registered Direct Offering'). AST SpaceMobile intends to use the net proceeds of the Registered Direct Offering, together with cash on hand of approximately $0.9 million, to repurchase $135.0 million principal amount of its outstanding 4.25% convertible senior notes due 2032 (the 'Repurchase'), removing approximately $37.8 million of remaining interest on such repurchased notes. Both the closing of the Registered Direct Offering and the Repurchase are expected to take place on or about July 31, 2025. The transactions are cross-conditional. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of AST SpaceMobile's Class A common stock. This press release does not constitute an offer to buy, or a solicitation of any offer to sell, any 4.25% convertible senior notes due 2032. 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, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, including statements regarding AST SpaceMobile's plans for growth, the potential dilution or cash obligations relating to the conversion of the notes, the use of the net proceeds from the sale of the notes, the future settlement of the conversion of the notes, the potential dilution and interest savings from the Registered Direct Offering and the Repurchase, and whether the Registered Direct Offering and the Repurchase will be consummated in the anticipated amounts, or at all. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on March 3, 2025, its Form 10-Q for the fiscal quarter ended March 31, 2025 filed with the SEC on May 12, 2025, and the future reports that it may file from time to time with the SEC. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Business Wire
03-07-2025
- Business
- Business Wire
AST SpaceMobile Secures Additional $100.0 Million of Liquidity from Non-Dilutive Equipment Financing
MIDLAND, Texas--(BUSINESS WIRE)-- AST SpaceMobile, Inc. ('AST SpaceMobile') (NASDAQ: ASTS), 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 a $100.0 million equipment financing facility led by Trinity Capital Inc. (NASDAQ: TRIN) ('Trinity'), a leading alternative asset manager. This non-dilutive financing is designed to support AST SpaceMobile's accelerated manufacturing and network deployment goals during 2025 and 2026. 'This new non-dilutive financing enables AST SpaceMobile to continue its strong momentum executing against its accelerated operational plans,' said Andrew Johnson, Chief Financial Officer of AST SpaceMobile. 'This facility is the first such type of financing agreement for the company and reflects our stage of rapid growth and transition from Research & Development to full-scale manufacturing and network deployment.' This non-dilutive financing provides an additional $100.0 million of long-term liquidity, including $25.0 million drawn at closing against previously purchased equipment, available through 2031. The facility uses existing and planned equipment as collateral and is designed to fit into a more mature, long-term capital structure, facilitating future debt capital, enabling flexibility and facilitating continued growth. The company's capital structure continues to mature through a robust funding strategy, demonstrated by the successful convertible note issuance in January 2025, the retirement of approximately half the convertible notes after a share price increase of over 100% within six months, the diligent and prudent use of the 2025-issued At-the-Market facility, while concluding the second quarter with over $900.0 million in cash, cash equivalents, and restricted cash. 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, and designed for both commercial and government applications. Our 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, follow AST SpaceMobile on YouTube, X (formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. About Trinity Capital Inc. Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources and structures investments in well-capitalized growth-oriented companies. With five distinct business verticals–Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences–Trinity Capital stands as a long-term trusted partner for innovative companies seeking tailored debt solutions. Headquartered in Phoenix, Arizona, Trinity Capital's dedicated team is strategically located across the United States and in London (UK). For more information on Trinity Capital, please visit and stay connected to the latest activity via LinkedIn and X (@trincapital). Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Yahoo
02-07-2025
- Business
- Yahoo
AST SpaceMobile (ASTS) Declines on Profit-Taking
AST SpaceMobile, Inc. (NASDAQ:ASTS) is one of the . AST SpaceMobile dropped its share prices by 5.33 percent on Monday to close at $46.73 apiece as investors resorted to profit-taking following its surge to a record high last week. On Tuesday last week, AST SpaceMobile, Inc. (NASDAQ:ASTS) jumped to a new high of $54.05 as investors scooped up shares ahead of its official inclusion in the Russell 1000 index, which took effect after the market closed on Friday. The Russell 1000 Index tracks the largest 1,000 US companies by market capitalization. It is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. 'Joining the Russell 1000 Index marks another important milestone as we work to deliver on our mission of eliminating coverage gaps and bringing cellular broadband connectivity directly to the mobile devices of the billions of people who remain unconnected,' said AST SpaceMobile, Inc. (NASDAQ:ASTS) CFO Andrew Johnson. An aerial view of a communications satellite in orbit, beaming its signal down to Earth. 'This inclusion will expand our visibility among investors as we continue to advance our technology, scale operations, and execute against our global growth plans,' he added. While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
