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AST SpaceMobile Announces Completion of Private Offering of $1.15 Billion of Convertible Senior Notes Due 2034

ASTS
  • AST SpaceMobile closed $1.0 billion in 1.625% convertible senior notes due 2034 & exercised the full option to purchase an additional $150 million in notes.
  • The company now holds over $3.8 billion in pro forma cash, cash equivalents, & restricted cash as of June 30, 2026.
  • Settlement for the $150 million option notes is expected on July 22, 2026, subject to customary closing conditions.
  • The effective conversion price was increased to $149.20 per share via a capped call hedge, with effective dilution of less than 2%.
  • AST SpaceMobile retains the option to settle future conversions in cash, shares, or a combination of both to manage dilution & cash obligations.
  • The 1.625% coupon rate represents the company's lowest interest rate ever.
  • Proceeds will support growth opportunities, vertical integration, & securing additional orbital access for the space-based cellular network.