AST SpaceMobile gains court approval for up to 45 MHz of lower mid-band spectrum; $550M deal

AST SpaceMobile, Inc.

Bankruptcy court approved Ligado transaction on June 23, 2025; includes up to 45 MHz of lower mid-band spectrum in US/Canada for direct-to-device.
AST SpaceMobile to pay ~$550M total consideration; $535M to Inmarsat; $420M due Oct 31, 2025, $100M Mar 31, 2026, $15M at closing.
Non-recourse senior-secured delayed-draw term loan facility of $550M committed by institutional lenders; backstop commitment from Ligado sponsors.
Inmarsat supports regulatory applications with FCC and ISED for L-Band NGSO system; spectrum usage rights for 80+ years.
Closing subject to satisfactory regulatory approvals; spectrum access usage payments to Ligado begin Sep 30, 2025.

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