AST SpaceMobile Holds 9.99% of Roundhill’s Space ETF, Stock Dipped 28.8%
AST SpaceMobile accounted for 9.99% of Roundhill’s newly launched Space & Technology ETF, with the top three holdings comprising 29.3% of assets. The stock plunged 28.8% in February after raising $1 billion in convertible notes to fund its satellite constellation, widening dilution concerns.
1. ETF Inclusion Details
Roundhill Investments launched the Space & Technology ETF (ticker MARS) with 23 initial holdings and a 9.99% allocation to AST SpaceMobile. The actively managed fund concentrates its top three positions at 29.3% of assets and projects the global space economy to expand from $630 billion in 2023 to $1.8 trillion by 2035.
2. Convertible Notes and Share Drop
AST SpaceMobile issued $1 billion in convertible notes to accelerate satellite constellation deployment, triggering a 28.8% share decline in February. The financing raised dilution concerns against a $35.4 billion market capitalization, despite strategic partnerships with Verizon and Vodafone to boost network coverage.