10-K/A

AST SpaceMobile restated its financial statements after an April 2021 SEC guidance clarification required warrant liabilities to be measured at fair value rather than classified as equity, resulting in a $55.7 million increase to accumulated deficit as of December 31, 2020 and identification of a material weakness in internal controls over financial reporting. The company, a blank-check SPAC formed to pursue a business combination, held $232.2 million in trust account assets as of year-end 2020 but reported a net loss of $51.96 million for 2020 driven primarily by a $52.15 million non-cash loss on warrant fair value changes, with only $131,151 in operating cash and a working capital deficit raising substantial going-concern doubts.