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AST SpaceMobile closes $75M funding round
by Staff Writers
Midland TX (SPX) Dec 05, 2022

AST SpaceMobile's BlueWalker 3 test satellite.

AST SpaceMobile, Inc. (NASDAQ: ASTS) has closed 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.

"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."

The 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.

The 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.


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SPACEMART
IAU CPS Statement on BlueWalker 3
Paris, France (SPX) Nov 29, 2022
The International Astronomical Union Center for the Protection of the Dark and Quiet Sky from Satellite Constellation Interference expresses concern about the recently launched prototype BlueWalker 3 satellite's impact on astronomy. New measurements reveal that this low Earth orbiting satellite is now one of the brightest objects in the night sky, outshining all but the brightest stars. In addition, the satellite's use of terrestrial radio frequencies poses a new challenge to radio astronomy. On 1 ... read more

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