AST SpaceMobile Prices $1 Billion Convertible Notes Offering to Fund Global Satellite Constellation Deployment

AST SpaceMobile, Inc. (NASDAQ: ASTS) has priced $1 billion in convertible senior notes due 2036 in 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 October 21, 2025. The company granted initial purchasers an option to buy up to an additional $150 million within 13 days of issuance, potentially bringing the total offering to $1.15 billion.

Net proceeds from the offering are expected to total approximately $981.9 million, or about $1.13 billion if the initial purchasers exercise their option in full. These funds will be allocated to general corporate purposes, with a primary focus on supporting the deployment of the company's global satellite constellation for its planned SpaceMobile Service. This financial move represents a significant capital infusion for AST SpaceMobile as it advances its ambitious goal of building the first global cellular broadband network in space that operates directly with standard, unmodified mobile devices.

The increased offering size from $850 million to $1 billion indicates strong investor interest in AST SpaceMobile's vision and technology. The company's approach leverages its extensive intellectual property and patent portfolio to address connectivity gaps faced by approximately five billion mobile subscribers worldwide. By targeting the billions who remain unconnected, AST SpaceMobile aims to transform global telecommunications infrastructure through space-based solutions that complement existing terrestrial networks.

The convertible notes structure provides investors with both debt security and potential equity upside through conversion to common stock at a premium price. The 22.5% conversion premium suggests confidence in the company's future valuation growth as it progresses toward operational deployment of its satellite constellation. This financing comes at a critical juncture for the satellite communications industry, where multiple companies are competing to provide global broadband connectivity through low Earth orbit constellations.

AST SpaceMobile's technology differentiates itself by focusing on direct compatibility with existing mobile devices without requiring specialized hardware or modifications. This approach could potentially accelerate adoption and reduce barriers to entry for end-users in underserved regions. The successful pricing of this offering provides the company with substantial resources to advance its technical development, satellite manufacturing, and launch schedule while navigating the complex regulatory landscape governing global telecommunications services.

For more information about AST SpaceMobile's technology and mission, visit their official website at https://ast-science.com/. The company's progress represents a significant development in the ongoing evolution of global connectivity solutions, with potential implications for telecommunications infrastructure, digital inclusion initiatives, and competitive dynamics in the satellite communications sector.