AST SpaceMobile completed a private offering of $1.0 billion 1.625% Convertible Senior Notes due 2034 and executed an indenture with a trustee. The notes carry semiannual interest, mature on Feb. 1, 2034, and include customary conversion, covenant and default terms, plus a $150 million over-allotment option for initial purchasers. Net proceeds were approximately $983.6 million, of which $96.9 million funded capped call transactions. The company plans to deploy proceeds to support growth initiatives and secure additional access to orbit for its space-based cellular network.
Agreement 1: AST SpaceMobile Raises $1.0 Billion via 1.625% Convertible Notes Due 2034; Indenture Executed
- Agreement type: Indenture for 1.625% Convertible Senior Notes due 2034
- Counterparty: U.S. Bank Trust Company
- Signed / Effective: Jul 20 2026 / Jul 20 2026
- Duration / Termination: Until Feb 01 2034
- Reason: Finance growth and secure additional launch access
Agreement 2: AST SpaceMobile Enters Capped Call Transactions to Lift Effective Conversion Price to $149.20
- Agreement type: Capped call confirmations related to 2034 convertible notes
- Counterparty: Certain financial institutions
- Signed / Effective: Jul 15 2026 / Jul 15 2026
- Duration / Termination: Through note maturity
- Reason: Reduce dilution and offset cash above principal on conversions
Original SEC Filing:
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