AST SpaceMobile plots $86 million share sale
TAMPA, Fla. — AST SpaceMobile said Nov. 30 it could raise more than $86 million from selling a chunk of shares as the company looks to accelerate its direct-to-smartphone constellation plans.
The satellite operator agreed to sell shares in a public offering for $5.50 each, less than half what they were worth the day it became a public company in April 2021.
Investment bank B. Riley Securities is underwriting the sale of shares that would equate to about $75 million in gross proceeds for AST SpaceMobile.
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