AST SpaceMobile prices USD 1 billion convertible senior notes due 2034 - ASTS News | RalliesAST SpaceMobile prices USD 1 billion convertible senior notes due 2034
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ASTS• Convertible notes priced with capped call transactions
- AST SpaceMobile priced a private offering of USD 1 billion 1.625% convertible senior notes due 2034.
- Initial conversion price set at USD 79.57 per share; conversion rate 12 shares per USD 1,000 principal amount.
- Capped call transactions set an initial cap price of USD 149.2 per share; AST SpaceMobile expects to spend USD 96.9 million.
- Initial purchasers hold an option to buy up to an additional USD 150 million of notes within 13 days of issuance.
- Net proceeds estimated at USD 983.6 million; funds earmarked for growth initiatives, orbit access, partnerships or acquisitions.
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