AST Spacemobile, Inc. (NASDAQ: ASTS) has announced the pricing of a private offering of $1.0 billion of convertible senior notes due 2036, representing an increase from the previously announced $850.0 million principal amount of notes. The initial conversion price of the notes is approximately $96.30 per share of AST Spacemobile’s class A common stock, which is a premium of about 22.5% to the last reported sale price of the stock on October 21, 2025.
The net proceeds from the notes offering are estimated to be approximately $981.9 million, or approximately $1,129.2 million if the initial purchasers’ option to purchase additional notes is exercised in full. AST Spacemobile intends to use the net proceeds for general corporate purposes, including funding the deployment of its worldwide constellation of satellites.
Additionally, AST Spacemobile has priced a registered direct offering of approximately 2.0 million shares of its class A common stock at a price of $78.61 per share. The company plans to use the net proceeds from this offering, along with cash on hand, to repurchase $50.0 million aggregate principal amount of its existing 4.25% convertible senior notes due 2032.
The completion of the notes offering is not contingent on the completion of the registered direct offering, and vice versa. AST Spacemobile is building the first and only global cellular broadband network in space, aiming to eliminate connectivity gaps and bring broadband to billions who remain unconnected. Following these announcements, the company's shares moved 0.52%, and are now trading at a price of $71.72. For more information, read the company's full 8-K submission here.
