AST SpaceMobile is a publicly traded satellite designer and manufacturer headquartered in Midland, Texas, focused on building a space-based cellular broadband network. Their SpaceMobile network aims to connect directly to standard, unmodified smartphones via their constellation of low Earth orbit satellites, like the BlueBird series. AST SpaceMobile partners with mobile network operators like AT&T, Verizon, and Vodafone to expand cellular coverage and provide connectivity in underserved areas, also securing contracts with the U.S. government for secure and reliable connectivity.
All verified mentions of this organization in source documents.
The $230,000,000 PIPE is being led by AST SpaceMobile’s strategic partners including Vodafone, Rakuten (Japan), and American Tower, along with UBS O’Connor and a broad base of financial institutions.
AST SpaceMobile targets the $1,000,000,000,000 global mobile wireless services market by delivering broadband cellular connectivity directly to unmodified, existing mobile phones.
AST SpaceMobile expects to deploy space assets for nearly complete global coverage while operating under a super-wholesale, business-to-business model.
AST SpaceMobile expects to raise an additional $230,000,000 from investors including Rakuten, Vodaphone, American Tower, and UBS O’Conner through a private investment in public equity agreement to purchase common stock at $10 per share.
Abel Avellan expects AST SpaceMobile to be fully funded by the transaction and to become operating cash flow positive in 2023.
AST & Science is merging with New Providence Acquisition Corp. as it prepares to trade on the Nasdaq exchange in the first quarter of 2021 under the ticker symbol ASTS.
AST SpaceMobile expects to raise as much as $462,000,000 through the transaction, including up to $232,000,000 in cash from New Providence Acquisition Corp.
AST SpaceMobile plans to launch a next-generation satellite constellation to provide low-latency broadband wireless communications directly to standard smartphones without the need for specialized satellite hardware.
AST & Science acquired a controlling interest in NanoAvionics in 2018.