AST SpaceMobile Inc. has announced a significant financial agreement through its subsidiary, Spectrum USA I, LLC, which entered into a credit agreement with Sound Point Agency LLC. The credit agreement establishes a non-recourse senior secured delayed draw term loan facility worth $550 million. This facility is set to support payment obligations to Ligado Networks, facilitating access to up to 45 MHz of lower mid-band spectrum across the U.S. and Canada for direct-to-device satellite applications. The loan will be secured by a first-priority lien on nearly all of the Borrower's assets, and several conditions, including regulatory approvals and specific bankruptcy-related events concerning Ligado Networks, must be met before accessing the funds.
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