AST SpaceMobile, Inc. Repurchases Convertible Senior Notes and Completes Equity Offering

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completed the repurchase of $50.0 million principal amount of its outstanding 4.25% convertible senior notes due 2032 and completed an equity offering to fund this repurchase. The equity offering involved the sale of 2,048,849 shares of its Class A common stock at $78.61 per share. Additionally, the company issued $1,150,000,000 aggregate principal amount of 2.00% Convertible Senior Notes due 2036, including an additional $150,000,000 principal amount due to the exercise of an option by initial purchasers.

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About Ast Spacemobile Inc.

Ast Spacemobile Inc. is an innovative telecommunications company focused on transforming mobile connectivity through satellite technology. The company's primary mission is to develop and deploy the first and only space-based cellular broadband network directly accessible by standard mobile phones. This groundbreaking initiative aims to eliminate connectivity gaps in remote and underserved areas worldwide, significantly enhancing global communication networks. Ast Spacemobile Inc. is crucial to sectors like remote communications, emergency services, and developing markets where traditional cellular infrastructure is challenging to implement. With its headquarters in Midland, Texas, the company is at the forefront of marrying terrestrial mobile networks with satellite solutions, marking a significant shift in how broad-area coverage can be achieved. Their endeavor represents a pivotal advancement in the telecommunications industry, likely impacting global connectivity dynamics by extending the reach of mobile network operators beyond conventional terrestrial limitations.