Electronics Weekly
It estimates that the net proceeds from the offering will be approximately $388 million. It says the strengthening of its balance sheet will help accelerate its manufacturing plans. These are for the production and launch of its BlueBird satellite network.
“This successful financing enables us to accelerate our mission of delivering the world’s first space-based cellular broadband network,” said Abel Avellan, Founder, Chairman, and CEO of AST SpaceMobile.
“With nearly $1 billion in cash on our balance sheet, we are now equipped to fast-track the production and launch of our revolutionary network.”
The Convertible Senior Notes are due in 2032.
Its goal is for in-orbit technology to eliminate cellular connectivity gaps around the world. They would provide 4G or 5G broadband connectivity from space, involving 3GPP-standard frequencies. The company has previously announced strategic investment from AT&T, Google and Vodafone.
SpaceMobile
AST SpaceMobile’s first launch of five commercial satellites is its BlueBird 1-5 mission.
These satellites build on the success of its in-orbit BlueWalker 3 satellite (pictured above and right).
For the company’s planned operational satellites, beams will support capacity of up to 45 Mhz, potentially enabling data transmission speeds of up to 120 Mbps. Each BlueBird satellite has a communications array measuring 693 square feet.
The company has said it has over 40 agreements with mobile network operators globally, who collectively service 2.8 billion subscribers.
In September 2023, AST SpaceMobile first announced it had achieved a space-enabled 5G cellular broadband connection, on a standard smartphone.
See also: AST achieves space-based 5G connectivity for standard smartphones
