AST SpaceMobile prices repurchase of convertible notes due 2032

AST SpaceMobile (ASTS) announced the pricing of a cash repurchase of $225M aggregate principal amount of its 4.25% convertible notes due 2032 pursuant to separate, privately negotiated repurchase transactions with a limited number of holders of the 2032 convertible notes and a registered direct offering of 9,450,268 shares of its Class A common stock to holders of 2032 convertible notes participating in the Repurchase in a direct placement registered under the Securities Act of 1933, as amended. With this series of transactions, AST SpaceMobile, Inc. will issue approximately 1.04M incremental shares to the underlying shares of the 2032 convertible notes being repurchased while removing $225M of debt from the balance sheet and approximately $63.8M of remaining interest. Both the closing of the Repurchase and the Registered Direct Offering are expected to take place on or about July 1, 2025. The transactions are cross-conditional.