AST SpaceMobile Redeems Outstanding Warrants

By Bobby Samwell • Wednesday, August 28 15:14 • Permanent Link

AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS) has announced the redemption of all its publicly traded warrants to purchase shares of Class A common stock, par value $0.0001 per share, that remain outstanding at 5:00 pm New York City time on Friday, September 27, 2024. The redemption price is set at $0.01 per warrant.

The stock price condition, which required the last sale price of the Class A common stock to be at least $18.00 per share for twenty (20) trading days within the thirty (30) day trading period ending on the third trading day prior to the date of the notice of redemption, was satisfied on August 23, 2024.

Warrant holders have the option to exercise their warrants to purchase shares of Class A common stock until immediately prior to 5:00 p.m. New York City time on the redemption date. The exercise price is set at $11.50 per public warrant exercised.

The public warrants, which are listed on NASDAQ under the ticker symbol "ASTSW," will cease trading on NASDAQ at 5:00 p.m. New York City time on the redemption date. Any public warrants that remain unexercised at that time will be void and no longer exercisable.

AST SpaceMobile is focused on building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices. Their mission is to eliminate connectivity gaps faced by today's five billion mobile subscribers and bring broadband to the billions who remain unconnected. The market has reacted to these announcements by moving the company's shares -9.4% to a price of $28.18. For the full picture, make sure to review AST SpaceMobile's 8-K report.

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