AST SpaceMobile proposes $1.0B convertible notes offering; cash $2.7B; targets 45 satellites early 2027

AST SpaceMobile, Inc.

Proposed $1.0B aggregate principal of convertible senior notes due 2034; initial purchasers option for additional $150M.
Preliminary cash and equivalents as of June 30, 2026: ~$2.723 billion.
Launch campaign targeting ~45 BlueBird satellites in early 2027, contingent on assembly and launch readiness.
Advanced discussions with Rakuten for J-LEO subsidy up to 148 billion yen (~$1B) for satellite infrastructure in Japan.
Net proceeds to fund growth initiatives, vertical integration, and secure orbit access; capped call transactions to reduce dilution.

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