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AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network designed to be accessible directly by standard mobile phones, today announced it has entered into a common stock purchase agreement with B. Riley Principal Capital, LLC ("B. Riley").
The agreement governs a Committed Equity Facility that provides AST SpaceMobile with the rig AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network designed to be accessible directly by standard mobile phones, today announced it has entered into a common stock purchase agreement with B. Riley Principal Capital, LLC ("B. Riley").
The agreement governs a Committed Equity Facility that provides AST SpaceMobile with the right, without obligation, to sell and issue up to $75 million of its Class A Common Stock over a period of 24 months to B. Riley at AST SpaceMobile's sole discretion, subject to certain limitations and conditions.
"This new source of funding is in line with our strategy to maintain regular and diverse access to various capital markets, while preserving our existing balance sheet cash for building our BlueBird production satellites," said Scott Wisniewski, AST SpaceMobile Chief Strategy Officer. "The facility allows us the flexibility to raise equity capital, when and if we choose to do so, at a measured pace, depending on market conditions."
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company's common stock. There will be no sale of common stock in any jurisdiction in which one would be unlawful.
Further details are contained in a Current Report on Form 8-K filed with the Securities and Exchange Commission on May 6, 2022.
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FCC grants experimental license to AST SpaceMobile for BlueWalker 3 cell phone tests
Midland TX (SPX) May 03, 2022
AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network designed to be accessible directly by standard mobile phones, today announced it has received an experimental license from the Federal Communications Commission (FCC) supporting its U.S.-based testing of the BlueWalker 3 satellite. The license covers BlueWalker 3 space-to-ground testing in the United States using 3GPP low-band cellular frequencies and Q/V-band frequencies, subject to cer ... read more