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Vodafone Ventures Limited and Vodafone Group Plc completed their investment in AST SpaceMobile on April 6, 2021, acquiring 10.04 million shares and units representing a 16.5% stake through a combination of a $10 million direct equity purchase of 1 million Class A Common Stock and 9.04 million operating units in the underlying business entity. The transaction was structured as part of AST SpaceMobile's merger with New Providence Acquisition Corp., and Vodafone obtained board nomination rights, registration rights for resale of securities, and the ability to convert its operating units to Class A Common Stock beginning April 2022, subject to transfer restrictions and lock-up provisions through a stockholders agreement with other major investors including Abel Avellan, Rakuten, American Tower, and Invesat.