AST SpaceMobile proposes $400M convertible notes due 2032 and converts $148M existing notes into shares

AST SpaceMobile, Inc.

Company proposes $400M aggregate principal of convertible senior notes due 2032, with option for additional $60M.
ASTS exercises option to convert $148.5M of 5.50% convertible PIK toggle notes due 2034 into ~25.8M shares at $5.75 per share.
Proceeds from offering to be used for capped call transactions and general corporate purposes.
Preliminary unaudited financial results provided for Q4 and full year 2024, including cash and operating expenses.

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