AST SpaceMobile Announces $75 Million Committed Equity Facility
06 Mayo 2022 - 9:40AM
Business Wire
Further Capital Market Access Will Support
Ongoing Operating Expenses and Preserve Existing Balance Sheet Cash
for BlueBird Satellites
AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the
first and only space-based cellular broadband network designed to
be accessible directly by standard mobile phones, today announced
it has entered into a common stock purchase agreement with B. Riley
Principal Capital, LLC (“B. Riley”).
The agreement governs a Committed Equity Facility that provides
AST SpaceMobile with the right, without obligation, to sell and
issue up to $75 million of its Class A Common Stock over a period
of 24 months to B. Riley at AST SpaceMobile’s sole discretion,
subject to certain limitations and conditions.
“This new source of funding is in line with our strategy to
maintain regular and diverse access to various capital markets,
while preserving our existing balance sheet cash for building our
BlueBird production satellites,” said Scott Wisniewski, AST
SpaceMobile Chief Strategy Officer. “The facility allows us the
flexibility to raise equity capital, when and if we choose to do
so, at a measured pace, depending on market conditions.”
This press release is for informational purposes only and it
does not represent an offer to sell or the solicitation of an offer
to buy any of the Company’s common stock. There will be no sale of
common stock in any jurisdiction in which one would be
unlawful.
Further details are contained in a Current Report on Form 8-K
filed with the Securities and Exchange Commission on May 6,
2022.
About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular
broadband network in space to operate directly with standard,
unmodified mobile devices based on our extensive IP and patent
portfolio. Our engineers and space scientists are on a mission to
eliminate the connectivity gaps faced by today's five billion
mobile subscribers and finally bring broadband to the billions who
remain unconnected. For more information, follow AST SpaceMobile on
Facebook, Twitter, LinkedIn and YouTube. Watch this video for an
overview of the SpaceMobile mission.
To receive alerts about upcoming events and press releases,
please sign up for our investor relations email alerts list at
https://investors.ast-science.com/ir-resources/email-alerts.
Forward-Looking Statements
This communication contains “forward-looking statements” that
are not historical facts, and involve risks and uncertainties that
could cause actual results of AST SpaceMobile to differ materially
from those expected and projected. These forward-looking statements
can be identified by the use of forward-looking terminology,
including the words “believes,” “estimates,” “anticipates,”
“expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,”
“projects,” “predicts,” “continue,” or “should,” or, in each case,
their negative or other variations or comparable terminology.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside AST SpaceMobile’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (i) expectations regarding AST SpaceMobile’s strategies
and future financial performance, including AST’s future business
plans or objectives, expected functionality of the SpaceMobile
Service, anticipated timing and level of deployment of satellites,
anticipated demand and acceptance of mobile satellite services,
prospective performance and commercial opportunities and
competitors, the timing of obtaining regulatory approvals, ability
to finance its research and development activities, commercial
partnership acquisition and retention, products and services,
pricing, marketing plans, operating expenses, market trends,
revenues, liquidity, cash flows and uses of cash, capital
expenditures, and AST’s ability to invest in growth initiatives;
(ii) the negotiation of definitive agreements with mobile network
operators relating to the SpaceMobile service that would supersede
preliminary agreements and memoranda of understanding; (iii) the
ability of AST SpaceMobile to grow and manage growth profitably and
retain its key employees and AST SpaceMobile’s responses to actions
of its competitors and its ability to effectively compete; (iv)
changes in applicable laws or regulations; (v) the possibility that
AST SpaceMobile may be adversely affected by other economic,
business, and/or competitive factors; (vi) the outcome of any legal
proceedings that may be instituted against AST SpaceMobile; and
(vii) other risks and uncertainties indicated in the Company’s
filings with the SEC, including those in the Risk Factors section
of AST SpaceMobile’s Form 10-K filed with the SEC on March 31,
2022.
AST SpaceMobile cautions that the foregoing list of factors is
not exclusive. AST SpaceMobile cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. For information identifying important factors
that could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
Risk Factors incorporated by reference into AST SpaceMobile’s Form
10-K Registration Statement filed with the SEC on March 31, 2022.
AST SpaceMobile’s securities filings can be accessed on the EDGAR
section of the SEC’s website at www.sec.gov. Except as expressly
required by applicable securities law, AST SpaceMobile disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220506005266/en/
Investor Contact: Scott Wisniewski
investors@ast-science.com
Media Contact: Brandyn Bissinger press@ast-science.com +1
866 845 6521
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