Mentioned:
AST SpaceMobile is rapidly executing on their mission to deliver cellular connectivity from space. Which is exactly why they’ve just raised more than a billion dollars.
What’s happening:
- AST SpaceMobile (NASDAQ: ASTS) has successfully raised $1.15B USD in a new convertible senior note financing round
By the numbers:
- AST SpaceMobile’s senior convertible notes pay a coupon of 1.625%
- AST SpaceMobile used $96.9M USD of the new capital to fund capped call transactions which will raise the effective conversion price to $149.20 USD per share
Why it matters:
- This is one of the single largest convertible senior note financing rounds that AST SpaceMobile has ever raised
Going deeper:
- AST SpaceMobile has publicly stated they plan to use the new growth capital to secure additional access to orbit for their space-based cellular network as well as to explore potential partnerships and acquisitions to reduce their dependence on other launch providers
- AST SpaceMobile recently made major waves on Wall Street when they received full commercial authority from the Federal Communications Commission to run a nationwide direct-to-device mobile network from space in the United States
