AST SpaceMobile to Offer $1 Billion in Convertible Senior Notes
MT Newswires Live
Jul 16
AST SpaceMobile (ASTS) plans a private offering of $1 billion of convertible senior notes due 2034, the company said late Wednesday.
The company intends to grant initial buyers a 13-day option to buy up to an additional $150 million of notes.
AST SpaceMobile said it plans to use a portion of the proceeds to fund capped call transactions intended to reduce potential dilution, with the remainder to be used for growth initiatives and to secure additional access to orbit for its space-based cellular broadband network, including possible partnerships or acquisitions.
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