MIDLAND, Texas–(BUSINESS WIRE<\/a>)– \nThe Notes will be senior, unsecured obligations of AST SpaceMobile and will accrue interest payable semiannually in arrears. The Notes will mature on January 15, 2036, unless earlier converted, redeemed or repurchased. The Notes will be convertible into cash, shares of AST SpaceMobile\u2019s Class A common stock, or a combination thereof, at AST SpaceMobile\u2019s election. The interest rate, initial conversion rate, and other terms of the Notes are to be determined upon pricing of the Notes Offering.<\/p>\n \nAST SpaceMobile intends to use the net proceeds from the Notes Offering for general corporate purposes, including without limitation funding the deployment of AST SpaceMobile\u2019s worldwide constellation of satellites in anticipation of adding incremental strategic markets for its SpaceMobile Service.<\/p>\n \nThe Notes will only be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. Neither the Notes nor the shares of AST SpaceMobile\u2019s Class A common stock potentially issuable upon conversion of the Notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, such registration requirements.<\/p>\n \nThis announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Notes or any shares of AST SpaceMobile\u2019s Class A common stock potentially issuable upon conversion of the Notes and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.<\/p>\n Registered Direct Offering\/Existing Convertible Notes Repurchases<\/span><\/b><\/p>\n \nIn a separate press release, AST SpaceMobile also announced today its intention to offer, subject to market and other conditions, shares of its Class A common stock in a separate, registered direct offering.<\/p>\n \nAST SpaceMobile intends to use the net proceeds from the registered direct offering, together with cash on hand, to repurchase up to $50.0 million aggregate principal amount of its existing 4.25% convertible senior notes due 2032 (the \u201cExisting Notes\u201d) in the existing convertible notes repurchases described below.<\/p>\n \nConcurrently with the pricing of the Notes Offering, AST SpaceMobile expects to enter into one or more separate, privately negotiated transactions with a limited number of holders of its Existing Notes to repurchase up to $50.0 million principal amount of the Existing Notes for cash (the \u201cexisting convertible notes repurchases\u201d). The terms of each existing convertible notes repurchase will depend on a variety of factors, including the market price of AST SpaceMobile\u2019s Class A common stock and the trading price of the Existing Notes at the time of such repurchase, and the existing convertible notes repurchases will be subject to closing conditions that may not be consummated. No assurance can be given as to how many, if any, of the Existing Notes will be repurchased or the terms on which they will be repurchased. In addition, following the completion of the Notes Offering, AST SpaceMobile may repurchase additional Existing Notes.<\/p>\n \nIn connection with the existing convertible notes repurchases, certain holders of the Existing Notes that participate in such repurchases may purchase or sell shares of AST SpaceMobile\u2019s Class A common stock in the open market or enter into or unwind various derivative transactions with respect to AST SpaceMobile\u2019s Class A common stock to unwind any hedge positions they may have with respect to the Existing Notes or to hedge or unwind their exposure in connection with such repurchases.<\/p>\n \nThe amount of AST SpaceMobile\u2019s Class A common stock to be sold or purchased by such holders or the notional number of shares of AST SpaceMobile\u2019s Class A common stock underlying such derivative transactions may be substantial in relation to the historic average daily trading volume of AST SpaceMobile\u2019s Class A common stock. These activities may adversely affect the trading price of AST SpaceMobile\u2019s Class A common stock and the trading price of the Notes and the Existing Notes. AST SpaceMobile cannot predict the magnitude of such market activities or the overall effect they will have on the price of the Notes, the Existing Notes or AST SpaceMobile\u2019s Class A common stock.<\/p>\n \nThe completion of the Notes Offering is not contingent on the completion of the registered direct offering and the existing convertible notes repurchases and the completion of the registered direct offering and the existing convertible notes repurchases is not contingent on the completion of the Notes Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of AST SpaceMobile\u2019s Class A common stock in the registered direct offering. The registered direct offering and the existing convertible notes repurchases are cross-conditional. This press release does not constitute an offer to buy, or a solicitation of any offer to sell, any Existing Notes.<\/p>\n About AST SpaceMobile<\/b><\/p>\n \nAST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices 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\u2019s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis communication contains \u201cforward-looking statements\u201d that are not historical facts, including statements concerning the completion, timing, and size of the Notes Offering, the granting of a 13-day option to purchase additional Notes, the expected use of the net proceeds from the Notes Offering, and the proposed concurrent registered direct offering of AST SpaceMobile\u2019s Class A common stock and separate repurchase of a portion of its Existing Notes. These forward-looking statements can be identified by the use of forward-looking terminology, including the words \u201cbelieves,\u201d \u201canticipates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cpotential,\u201d 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. Such risks include, but are not limited to, whether AST SpaceMobile will offer the Notes or consummate the Notes Offering, the final terms of the Notes Offering, prevailing market conditions, the anticipated principal amount of the Notes, which could differ based upon market conditions, the anticipated use of the net proceeds from the Notes Offering, which could change as a result of market conditions or for other reasons, whether AST SpaceMobile will consummate the registered direct offering or repurchase of Existing Notes, the effects of entering into these transactions, and the impact of general economic, industry or political conditions in the United States or internationally.<\/p>\n \nAST 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\u2019s 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, its Form 10-Q for the fiscal quarter ended June 30, 2025 filed with the SEC on August 11, 2025, as amended on September 12, 2025, and the future reports that it may file from time to time with the SEC. AST SpaceMobile\u2019s securities filings can be accessed on the EDGAR section of the SEC\u2019s website at www.sec.gov<\/a>. 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.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251021239005\/en\/<\/a><\/span><\/p>\n Investor Contact: Media Contacts: KEYWORDS:<\/b> United States North America Texas<\/p>\n INDUSTRY KEYWORDS:<\/b> Telecommunications Satellite Internet Technology Carriers and Services Aerospace Manufacturing Mobile\/Wireless<\/p>\n
\nAST SpaceMobile, Inc. (\u201cAST SpaceMobile\u201d) (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 its intent to offer, subject to market conditions and other factors, $850.0 million aggregate principal amount of convertible senior notes due 2036 (the \u201cNotes\u201d) in a private offering (the \u201cNotes Offering\u201d) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d). AST SpaceMobile also intends to grant the initial purchasers of the Notes in the Notes Offering an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $150.0 million aggregate principal amount of Notes.<\/p>\n<\/p>\n
\n<\/b>
Scott Wisniewski
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investors@ast-science.com
\n<\/a><\/p>\n
\n<\/b>
Allison
\n
Eva Murphy Ryan
\n
917-547-7289
\n
AstSpaceMobile@allisonpr.com<\/a><\/p>\n
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