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American Tower Corporation and its subsidiary ATC TRS II LLC acquired an 8.6% stake in AST SpaceMobile through a business combination that closed on April 6, 2021, purchasing 2.5 million Class A shares at $10 per share for $25 million in a PIPE investment and receiving an additional 2.17 million LLC units and Class B shares. Under a stockholders agreement, American Tower gained the right to nominate one director to the company's board and agreed to voting restrictions that lock up its shares until April 2022, with the ability to exchange its LLC units for additional Class A shares on a one-to-one basis after that date. The investors retain the right to explore extraordinary corporate transactions and evaluate their investment on an ongoing basis depending on business performance, market conditions, and alternative opportunities.