AST SpaceMobile plans private offering of $1 billion convertible senior notes due 2034

AST SpaceMobile launched a proposed private offering of $1 billion convertible senior notes due 2034.

• Initial purchasers will have an option to buy up to an additional $150 million of notes within 13 days of issuance.
• Total potential issuance size: $1.15 billion.
• Proceeds are earmarked for capped call transactions, growth initiatives, orbit access, partnerships, acquisitions and vertical integration.
• The notes mature on Feb. 1, 2034.
• Conversion can be settled in cash, Class A shares, or a mix at the issuer’s election.