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.

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