AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034

Strengthens balance sheet with over $3.8 billion in pro forma cash, cash equivalents, and restricted cash as of June 30, 2026 Structured efficiently with 1.625% interest rate and $149.20 effective conversion price with effective dilution of less than 2%MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. (“AST SpaceMobile”) (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 the closing of $1.0 billion aggregate principal amount of 1.625% convertible senior notes due 2034 (the “notes”), and the exercise in full of the initial purchasers’ option to purchase an additional $150.0 million principal amount of notes (the “option notes”). The settlement for the option notes is expected to occur on July 22, 2026, subject to customary closing conditions. As part of the transaction, AST SpaceMobile purchased a capped call hedge to increase the effective conversion price to $149.20 per share. "This financing allows us to pursue an expanding universe of growth opportunities, continue vertical integration, and secure additional access to orbit for our space-based cellular network," said Scott Wisniewski, President of AST SpaceMobile. Andy Johnson, Chief Financial Officer of AST SpaceMobile, added: "The notes have our lowest coupon ever at 1.625% and have an effective conversion price of $149.20 per share, well above our all-time high stock price, providing cost-efficient capital with effective dilution of less than 2%." As a result of the related capped call transactions, dilution or cash obligations upon a conversion of the notes should be mitigated by the increase in the effective conversion price of the notes. AST SpaceMobile has the optionality to settle any conversions in cash, shares of its Class A common stock, or a combination of cash and shares to further influence potential dilution or cash obligations upon any future conversion of the notes. About AST SpaceMobile AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, designed for both commercial and government applications. Our engineers and space scientists are on a mission to enable 4G and 5G space-based cellular broadband to every device, everywhere, for today’s nearly 6 billion mobile subscribers globally. Forward-Looking StatementsRead the full story here

AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034

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