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Timothy John Gannon, a director of New Providence Acquisition Corp. (the SPAC that would later merge with AST SpaceMobile), filed an initial beneficial ownership statement on September 10, 2019, disclosing ownership of 10,000 shares of Class A common stock and an unspecified amount of Class B founder shares that convert to Class A on a one-for-one basis upon the company's initial business combination. The Class B shares carry anti-dilution protections and no expiration date, representing standard SPAC founder equity arrangements.