AST SpaceMobile, Inc. has priced $1 billion in convertible senior notes due 2036 through a private Rule 144A offering, increasing the deal size from the previously announced $850 million. The notes carry an initial conversion price of approximately $96.30 per share, representing a premium of about 22.5% to the last reported sale price on Oct. 21, 2025. The company also granted initial purchasers an option to buy up to an additional $150 million within 13 days of issuance.
Net proceeds from the offering are expected to total approximately $981.9 million, or $1.13 billion if the option is exercised in full. These funds will support general corporate purposes, including the deployment of the company's global satellite constellation for its planned SpaceMobile Service. This financial move represents a significant step in AST SpaceMobile's mission to build what it describes as the first and only global cellular broadband network in space that operates directly with standard, unmodified mobile devices.
The company's technology is based on an extensive intellectual property and patent portfolio, with engineers and space scientists working to address connectivity gaps faced by approximately five billion mobile subscribers worldwide. The initiative aims to bring broadband access to billions who currently remain unconnected, potentially transforming global telecommunications infrastructure. More information about the company's technology and mission is available at https://ast-science.com/.
The successful pricing of this offering at an increased amount suggests strong investor confidence in AST SpaceMobile's vision and execution capabilities. The 22.5% conversion premium indicates market optimism about the company's future share price performance, while the substantial capital infusion positions the company to accelerate its satellite deployment timeline. This development comes as global demand for reliable connectivity continues to grow, particularly in underserved regions where traditional terrestrial infrastructure faces geographical or economic challenges.
