Press release
AST SpaceMobile Announces Preliminary Results of Redemption of Public Warrants
MIDLAND, Texas--(BUSINESS WIRE)-- AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular
About this update from Ast Spacemobile, Inc.
[{"type":"text","content":" MIDLAND, Texas--(BUSINESS WIRE)--\nAST 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 preliminary results of its redemption of all of its outstanding publicly traded warrants (the “Public Warrants”) to purchase shares of Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), that were issued under the Warrant Agreement dated as of September 13, 2019 (the “Warrant Agreement”), by and between AST SpaceMobile (f/k/a New Providence Acquisition Corp. (“NPA”)) and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agent”), for a redemption price of $0.01 per warrant (the “Redemption Price”), that remained outstanding at 5:00 p.m. New York City time on Friday, September 27, 2024 (the “Redemption Date”).\n\nOn August 28, 2024, AST SpaceMobile issued a press release stating that, pursuant to the terms of the Warrant Agreement, on the Redemption Date, it would redeem all of the outstanding Public Warrants at the Redemption Price. Based on preliminary results, 13,581,996 Public Warrants were exercised for cash at an exercise price of $11.50 per share of Class A Common Stock, representing approximately 99.89% of the outstanding Public Warrants. A total of 260,987 Public Warrants remained unexercised as of the Redemption Date. The preceding results are preliminary and are subject to change. The final results will be available following the expiration of the broker protect period at 5:00 p.m. New York City Time on October 1, 2024. Following the Redemption Date, the Company had no Public Warrants outstanding.\n\nIn connection with the redemption, the Public Warrants ceased trading on the Nasdaq Global Select Market (“Nasdaq”) and were delisted, with the trading suspension announced on September 27, 2024. The Class A Common Stock continues to trade on the Nasdaq under the symbol “ASTS”.\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, and designed for both commercial and government applications. Our engineers and sp...