AST SpaceMobile, Inc. (ASTS): debt financing — AST SpaceMobile secures $155M strategic investment from AT&T, Google, Vodafone; plans up to $306.5M financing

AST SpaceMobile, Inc.

AT&T, Google, and Vodafone commit $110M in convertible notes (5.50% interest, 10-yr) and $45M in commercial payments.
Company plans $100M stock offering and $51.5M credit facility draw, targeting up to $306.5M total gross proceeds.
Preliminary cash $88.1M; Q4 opex $55.3-61.0M; FY2023 opex $216.8-222.5M.
First five commercial BlueBird satellite launch delayed to Q2 2024 from previously expected late Q1.
Stockholder filed class action lawsuit in Delaware over de-SPAC merger; outcome uncertain.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AST SpaceMobile, Inc. incurred convertible notes of $110.0 million with AT&T Venture Investments, LLC, Google LLC, and Vodafone Ventures Limited at 5.50% per year maturing ten-year term.

Instrument: convertible notes
Principal: $110.0 million
Counterparty: AT&T Venture Investments, LLC, Google LLC, and Vodafone Ventures Limited
Rate: 5.50% per year
Maturity: ten-year term
Event: incurrence

Exact text from the filing

the Company entered into a Convertible Security Investment Agreement (the "Investment Agreement") with AT&T, Google and Vodafone. Pursuant to the Investment Agreement, the Investors have agreed to purchase the Company’s subordinated convertible notes for an aggregate principal amount of $110.0 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AST SpaceMobile, Inc. reported preliminary financial results for the three and twelve months ended December 31, 2023.

Period: the three and twelve months ended December 31, 2023
Result: preliminary results

Exact text from the filing

Set forth below are the Company's unaudited preliminary estimated results for cash and cash equivalents and restricted cash, and capitalized property and equipment costs as of December 31, 2023, and Total operating expenses and Adjusted operating expenses for the three and twelve months ended December 31, 2023 and cash and cash equivalents and restricted cash, and capitalized property and equipment costs as of December 31, 2022, and Total operating expenses and Adjusted operating expenses for the three and twelve months ended December 31, 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AST SpaceMobile, Inc. entered into Convertible Security Investment Agreement with AT&T, Google and Vodafone valued at aggregate principal amount of $110.0 million (effective 2024-01-16).

Action: entry
Agreement: notes offering
Counterparty: AT&T, Google and Vodafone
Value: aggregate principal amount of $110.0 million
Effective: 2024-01-16

Exact text from the filing

On January 16, 2024, the Company entered into a Convertible Security Investment Agreement (the “Investment Agreement”) with AT&T, Google and Vodafone. Pursuant to the Investment Agreement, the Investors have agreed to purchase the Company’s subordinated convertible notes for an aggregate principal amount of $110.0 million

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283 debt financings filed in the last 30 days. Browse all debt financings →

AST SpaceMobile, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-002914

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