AST SpaceMobile Secures $400 Million to Expand Satellite Network

The funding will accelerate production of next-generation satellites for direct-to-smartphone connectivity, despite a drop in share prices following the announcement.

• AST SpaceMobile raised $400 million through convertible senior notes, with an option to expand the offering by $60 million within 13 days.
• The funds will be used to scale production of Block 2 BlueBird satellites, which offer 10 times the capacity of earlier models and support peak data rates of up to 120 Mbps.
• The company plans to launch its next satellite in March from India, followed by additional launches on SpaceX and Blue Origin rockets to meet its deployment goals.
• AST SpaceMobile's stock dropped by over 14% following the announcement, reflecting broader volatility in space-related equities.
• The company has over $900 million in cash reserves and aims to support U.S. telecom partners like AT&T and Verizon with nationwide satellite connectivity.

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