424B3

AST SpaceMobile filed a prospectus supplement on April 1, 2022, updating its registration statement to incorporate its 2021 annual report, which showed the company had completed assembly and testing of its BlueWalker 3 test satellite (targeted to launch summer 2022) and had incurred approximately $80.7 million in capitalized costs related to the satellite through that date. The company, which remains pre-revenue and had accumulated net losses of $70.5 million since inception through December 31, 2021, estimates it will need approximately $1.9 billion in total capital to manufacture and launch its planned 168-satellite constellation intended to provide direct mobile broadband service to standard unmodified cellular phones starting in 2023, with the company having entered into preliminary agreements covering approximately 1.8 billion mobile subscribers globally, including approximately 1.0 billion under revenue-sharing arrangements.