AST SpaceMobile Soars on $100 Million Verizon Partnership

Verizon's investment aims to enhance U.S. cellular coverage with space-based connectivity, building on AST's recent deal with AT&T.

AST SpaceMobile's stock surged over 50%, reaching its highest level since November 2022.
The partnership targets 100% coverage of the continental U.S. using the 850 MHz cellular spectrum.
Verizon's $100 million commitment includes $65 million in prepayments and $35 million in convertible notes.
AST SpaceMobile also secured financial backing from AT&T, Google, and Vodafone earlier this year.
The company plans to launch its first five commercial satellites this summer.