Ast Spacemobile Inc Stock Price, News & Analysis

AST SpaceMobile has announced a definitive agreement to sell its majority stake in NanoAvionics for an enterprise valuation of $68 million. The transaction is expected to generate approximately $28 million in net cash proceeds, set to close in the third quarter of 2022. This move aims to enhance liquidity, enabling AST SpaceMobile to concentrate on its core technology and the launch of the first commercial satellites, supported by a recently announced $75 million committed equity facility.

AST SpaceMobile is on track with preparations for its BlueWalker 3 satellite, now set to launch in early to mid-September from Cape Canaveral, FL. This new timeline arises from an update provided by SpaceX, the launch provider, with no current changes to the satellite's readiness. The launch date could shift, depending on various factors like weather and technical conditions. Scott Wisniewski, Chief Strategy Officer, expressed anticipation for the launch and promised updates for public viewing opportunities.

AST SpaceMobile plans to launch its BlueWalker 3 test satellite from Cape Canaveral, FL, during the week of August 15, 2022. This satellite, measuring 693 square feet, aims to test cellular broadband communications with standard mobile phones directly from space. The development of BlueWalker 3 has cost approximately $85 million, with over 800 successful ground tests conducted. The mission aims to integrate with mobile network operators globally to tackle connectivity gaps for over 5 billion mobile subscribers.

AST SpaceMobile (NASDAQ: ASTS) released its first quarter business update for 2022, highlighting significant advancements in satellite production and operational readiness. The company aims to produce up to six Bluebird satellites monthly and plans to launch the BlueWalker 3 satellite this summer, having completed over 700 tests. A new experimental license from the FCC allows for space-to-ground testing, while cash reserves stand at $255.1 million. Operating expenses rose to $32.7 million, with substantial investments in satellite and facility development.

AST SpaceMobile, Inc. (NASDAQ: ASTS) has announced a quarterly business update conference call scheduled for Monday, May 16 at 5:00 p.m. ET. The company will accept questions from shareholders during the call, and investors can submit inquiries via investors@ast-science.com. The call will be available through a live webcast on the company's Investor Relations website, with an archived version accessible afterward. AST SpaceMobile is focused on building the first space-based cellular broadband network for standard mobile devices.

AST SpaceMobile, Inc. (NASDAQ: ASTS) has entered a common stock purchase agreement with B. Riley Principal Capital, LLC, establishing a Committed Equity Facility. This facility allows AST SpaceMobile to raise up to $75 million in Class A Common Stock over 24 months at its discretion. The funding aims to support operating expenses while preserving existing cash for BlueBird satellites. Scott Wisniewski, Chief Strategy Officer, emphasized that this strategy enables flexible access to capital, contingent on market conditions.

AST SpaceMobile has obtained an experimental license from the FCC to conduct testing of its BlueWalker 3 satellite in Texas and Hawaii. This authorization allows for testing using 3GPP low-band cellular frequencies and Q/V-band frequencies, and is crucial for the planned summer 2022 launch. The satellite aims to enhance cellular connectivity for five billion subscribers currently facing coverage gaps. The company is also pursuing additional FCC authorizations for its BlueBird satellite constellation.

AST SpaceMobile (NASDAQ: ASTS) has appointed Sean Wallace as Executive Vice President and Chief Financial Officer, effective May 10, 2022. Wallace, with extensive experience in finance and telecommunications, previously served as CFO at Cogent Communications. He joins AST SpaceMobile as it prepares for the summer 2022 launch of its BlueWalker 3 satellite, aimed at bridging connectivity gaps for mobile subscribers worldwide. Wallace succeeds Tom Severson, who is retiring after years of service.

AST SpaceMobile has signed a Memorandum of Understanding (MoU) with Globe Telecom to explore extending its space-based cellular broadband network to Globe's customers, which include approximately 86 million wireless subscribers in the Philippines. This collaboration aims to improve connectivity in remote areas across the country's many islands. Astro SpaceMobile is building the first global cellular broadband network designed to work with standard mobile phones, addressing the connectivity gaps for over 5 billion mobile users.