AST SpaceMobile raises $400 million
Posted: Sat, Jan 25, 2025, 10:18 AM ET (1518 GMT)
AST SpaceMobile raised an additional $400 million to fund development of its direct-to-device constellation. The company raised the money through a convertible debt instrument where investors can convert the debt, priced Wednesday to pay interest at 4.25%, into AST SpaceMobile equity if shares rise above $45, or cash at the bond's maturity in 2032. The company now has more than $900 million of cash on its balance sheet to shift production of its Block 2 BlueBird satellites into a higher gear this year, after deploying five smaller Block 1 spacecraft to low Earth orbit in September. AST SpaceMobile has contracts to launch up to 45 BlueBird satellites in the next two years, and expects its next spacecraft to leave facilities in Texas as early as March for a launch from India.
AST SpaceMobile raised an additional $400 million to fund development of its direct-to-device constellation. The company raised the money through a convertible debt instrument where investors can convert the debt, priced Wednesday to pay interest at 4.25%, into AST SpaceMobile equity if shares rise above $45, or cash at the bond's maturity in 2032. The company now has more than $900 million of cash on its balance sheet to shift production of its Block 2 BlueBird satellites into a higher gear this year, after deploying five smaller Block 1 spacecraft to low Earth orbit in September. AST SpaceMobile has contracts to launch up to 45 BlueBird satellites in the next two years, and expects its next spacecraft to leave facilities in Texas as early as March for a launch from India.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
about spacetoday.net · info@spacetoday.net · mailing list |
