424B3

AST SpaceMobile completed a business combination with New Providence Acquisition Corp. on April 6, 2021, becoming a publicly traded company and raising capital to develop a satellite-based global mobile broadband network called SpaceMobile Service that would provide connectivity to standard smartphones via 168 low-Earth-orbit satellites, with estimated gross costs of $1.7 billion and first commercial service expected in 2023. The company has partnership agreements with mobile network operators representing approximately 1.3 billion mobile subscribers, though it faces substantial risks including significant development and capital requirements, extensive regulatory hurdles for spectrum access, intense competition from other satellite providers like Starlink, and the inherent dangers of satellite launch failures and on-orbit malfunctions that could delay or prevent revenue generation.