WS Investor
24 Oct 2025, 20:19
AST SpaceMobile, Inc. (ASTS) priced 1.0 billion dollars of 2.00% convertible senior notes due 2036 in a Rule 144A offering, upsized from 850 million dollars.
The notes initially convert at 10.3845 shares per 1,000 dollars (about 96.30 dollars per share, a 22.5% premium to the 78.61 dollars close on October 21, 2025) and are redeemable at the company’s option on or after January 22, 2029 if the stock trades at least 130% of the conversion price, subject to conditions. Initial purchasers have a 13-day option for an additional 150 million dollars. Net proceeds are estimated at about 981.9 million dollars (or 1.129 billion dollars with the option) for general corporate purposes, including satellite constellation deployment. Separately, the company priced a registered direct offering of roughly 2.0 million Class A shares at 78.61 dollars to help fund the repurchase of 50 million dollars of its 4.25% convertible notes due 2032.
The notes initially convert at 10.3845 shares per 1,000 dollars (about 96.30 dollars per share, a 22.5% premium to the 78.61 dollars close on October 21, 2025) and are redeemable at the company’s option on or after January 22, 2029 if the stock trades at least 130% of the conversion price, subject to conditions. Initial purchasers have a 13-day option for an additional 150 million dollars. Net proceeds are estimated at about 981.9 million dollars (or 1.129 billion dollars with the option) for general corporate purposes, including satellite constellation deployment. Separately, the company priced a registered direct offering of roughly 2.0 million Class A shares at 78.61 dollars to help fund the repurchase of 50 million dollars of its 4.25% convertible notes due 2032.
