Press release
AST SpaceMobile Announces Closing of Its Capital Raise of $75 Million and Welcomes New Stockholders
MIDLAND, Texas--(BUSINESS WIRE)-- AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS) is pleased to announce the closing of its offering of 13,636,364
About this update from Ast Spacemobile, Inc.
[{"type":"text","content":" MIDLAND, Texas--(BUSINESS WIRE)--\nAST SpaceMobile, Inc. (\"AST SpaceMobile\") (NASDAQ: ASTS) is pleased to announce the closing of its offering of 13,636,364 shares of Class A Common Stock raising gross proceeds of $75.0 million. B. Riley Securities (“B. Riley”) was the sole book-running manager of the offering. The Company has also granted B. Riley a 30-day option to purchase an additional 2,045,454 shares to cover over-allotments, if any, which would raise an additional $11.25 million in gross proceeds for AST SpaceMobile if exercised.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221202005281/en/AST SpaceMobile's BlueWalker 3 test satellite. (Photo: Business Wire)\n“We are pleased to announce this successful capital raise as we continue executing on our mission of connecting the unconnected,” said Sean Wallace, Chief Financial Officer of AST SpaceMobile. “We were excited to see the demand for this offering, which allowed us to upsize the offering from $65 million. We welcome all of our new stockholders.”\n\nThe proceeds will be used for general corporate purposes, and will contribute to funding production and launch of the first phase of the Company’s commercial satellites.\n\nThe Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. The registration statement was declared effective on November 10, 2022. This offering was made only by means of a prospectus and prospectus supplement that form a part of the registration statement. Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at 1-703-312-9580 or by e-mail at [email protected].\n\nThis press release shall not constitute an offer to sell or the so...