ASTS proposes $850M convertible notes due 2036; concurrent $50M note buyback via equity offering

AST SpaceMobile, Inc.

Proposed private offering of $850M convertible senior notes due 2036, with $150M greenshoe option.
Concurrent registered direct offering of Class A common stock to fund repurchase of up to $50M of existing 4.25% convertible notes.
As of Sept 30, 2025, cash and equivalents ~$1.22B, total debt ~$724.4M.
October 2025 ATM program raised ~$277.4M from 3.2M shares sold; ATM sales paused during offering.
Net proceeds will fund satellite constellation deployment and general corporate purposes.

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