AST SpaceMobile Prices Repurchase of Convertible Notes and Registered Direct Offering of Class A Common Stock to Fund Convertible Note Repurchase

▤ Summary

AST SpaceMobile priced a repurchase of $225 million of its convertible notes and paired it with a registered direct offering of 9.45 million shares. The company will use the stock sale proceeds to fund the note repurchase and reduce debt and interest obligations. The transaction will remove about 8.3 million underlying shares from the notes while adding roughly 1.04 million incremental shares overall. Both closing events are expected around July 1, 2025 and are cross-conditional. UBS Investment Bank serves as placement agent and financial advisor for the deal.

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