AST SpaceMobile, Inc. (ASTS): debt financing — AST SpaceMobile raises $575M via 2.375% convertible notes due 2032 with capped call

AST SpaceMobile, Inc.

Completed private offering of $575M aggregate principal amount of 2.375% Convertible Senior Notes due 2032, including full exercise of initial purchasers' option for additional $75M.
Notes carry initial conversion price of approximately $72.07 per share (20% premium over July 24, 2025 closing price of $60.06) and mature October 15, 2032.
Entered into capped call transactions with cap price of $120.12 per share (100% premium) to reduce potential dilution upon conversion.
Net proceeds of approximately $560M after discounts and expenses; used $54.1M to pay cost of capped calls, remaining for working capital and general corporate purposes.
Also announced pricing of a separate registered direct offering of Class A common stock and concurrent repurchase of a portion of its existing 4.25% convertible notes due 2032.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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 $575 million aggregate principal amount with U.S. Bank Trust Company, National Association at 2.375% per year maturing October 15, 2032.

Instrument: convertible notes
Principal: $575 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 2.375% per year
Maturity: October 15, 2032
Event: incurrence

Exact text from the filing

On July 29, 2025, AST SpaceMobile, Inc. (the “ Company ”) completed its previously announced private offering (the “ Offering ”) of $575 million aggregate principal amount of 2.375% Convertible Senior Notes due 2032 (the “ Notes ”), which includes the exercise in full of the initial purchasers’ option to purchase up to an additional $75 million principal amount of the Notes.

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AST SpaceMobile, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-021421

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