AST SpaceMobile, Inc. - Class A Common Stock (ASTS)
37.76
+0.85 (2.30%)
NASDAQ · Last Trade: Sep 10th, 2:26 PM EDT
Detailed Quote
Previous Close
36.91
Open
38.10
Bid
37.75
Ask
37.77
Day's Range
36.94 - 38.10
52 Week Range
17.50 - 60.95
Volume
6,498,729
Market Cap
2.01B
PE Ratio (TTM)
-
EPS (TTM)
-
Dividend & Yield
N/A (N/A)
1 Month Average Volume
9,740,461
Chart
About AST SpaceMobile, Inc. - Class A Common Stock (ASTS)
Ast Spacemobile Inc is a pioneering telecommunications company focused on building a global network of low Earth orbit satellites designed to provide cellular connectivity directly to mobile devices. Their innovative technology aims to bridge the coverage gap in rural and remote areas, allowing users to access mobile services without needing traditional ground infrastructure. By leveraging satellite technology, Ast Spacemobile seeks to enhance communication capabilities, making mobile connectivity universally accessible and enabling seamless connectivity for customers around the world. Read More
AST SpaceMobile shares were down more than 9% in Monday’s midday trade after SpaceX agreed to acquire spectrum from EchoStar in a deal valued at $17 billion.
AST SpaceMobile (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, closed $575 million in aggregate principal amount of convertible senior notes due 2032, including the full exercise of the purchasers’ option for $75 million. The financing boosts company resources to more than $1.5 billion in cash. The notes carry a seven-year maturity and an effective conversion price of $120.12 per share, supported by a capped call hedge that limits dilution to less than 1.5% at that level. AST SpaceMobile also announced a separate registered direct offering of about 5.8 million shares, with proceeds earmarked to repurchase $135 million of its outstanding 4.25% convertible senior notes, eliminating roughly $37.8 million in future interest. Roth Capital Partners acted as co-manager for the offering.
High short interest will impact these stocks in Q3, but they are set up to move higher and hit new highs, driven by catalysts in Q4, including the Q3 results.
