Press release
AST SpaceMobile Announces $75 Million Committed Equity Facility
Further Capital Market Access Will Support Ongoing Operating Expenses and Preserve Existing Balance Sheet Cash for BlueBird Satellites MIDLAND,
About this update from Ast Spacemobile, Inc.
[{"type":"text","content":"\nFurther Capital Market Access Will Support Ongoing Operating Expenses and Preserve Existing Balance Sheet Cash for BlueBird Satellites\n\n MIDLAND, Texas--(BUSINESS WIRE)--\nAST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network designed to be accessible directly by standard mobile phones, today announced it has entered into a common stock purchase agreement with B. Riley Principal Capital, LLC (“B. Riley”).\n\nThe agreement governs a Committed Equity Facility that provides AST SpaceMobile with the right, without obligation, to sell and issue up to $75 million of its Class A Common Stock over a period of 24 months to B. Riley at AST SpaceMobile’s sole discretion, subject to certain limitations and conditions.\n\n“This new source of funding is in line with our strategy to maintain regular and diverse access to various capital markets, while preserving our existing balance sheet cash for building our BlueBird production satellites,” said Scott Wisniewski, AST SpaceMobile Chief Strategy Officer. “The facility allows us the flexibility to raise equity capital, when and if we choose to do so, at a measured pace, depending on market conditions.”\n\nThis press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s common stock. There will be no sale of common stock in any jurisdiction in which one would be unlawful.\n\nFurther details are contained in a Current Report on Form 8-K filed with the Securities and Exchange Commission on May 6, 2022.\n\nAbout AST SpaceMobile\n\nAST 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. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on Facebook, Twitter, LinkedIn and YouTube. Watch this video for an overview of the SpaceMobile mission.\n\nTo receive alerts about upcoming events and press releases, please sign up for our investor relations email alerts list at https://investors.ast-science.com/ir-resources...