MIDLAND, Texas - AST SpaceMobile, Inc. (NASDAQ:ASTS), a company specializing in space-based cellular broadband network technology, has announced the pricing of its public offering of Class A common stock. The offering includes 32,258,064 shares at $3.10 each, with the potential for an additional 4,838,709 shares if the underwriter exercises its purchase option in full. This could raise gross proceeds of approximately $100 million, or up to $115 million if the additional shares are sold.
The offering is scheduled to close on January 23, 2024, contingent upon customary closing conditions being met. UBS Investment Bank and Barclays (LON:BARC) are serving as the joint book-running managers, with Deutsche Bank (ETR:DBKGn) Securities, B. Riley Securities, and Scotiabank also participating as joint book-runners.
AST SpaceMobile aims to use the net proceeds from this offering for general corporate purposes. The company has been active in developing what it describes as the first space-based cellular broadband network, intended to operate directly with standard, unmodified mobile devices based on its ongoing research and development activities.
Investors and the public have been able to access information about the offering through a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), which became effective on November 10, 2022. Documents related to the offering can be obtained for free by visiting the SEC's website or by contacting the book-runners directly.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The announcement also included a caution regarding forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from those projected. AST SpaceMobile has outlined these risks in its filings with the SEC, including its Form 10-K filed on March 31, 2023.
The information for this article is based on a press release statement from AST SpaceMobile, Inc.
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