Current Report (8-K)

AST SpaceMobile entered into a Common Stock Purchase Agreement with B. Riley Principal Capital on May 6, 2022, allowing the company to sell up to $75 million of Class A common stock at its discretion over 24 months, with purchase prices determined by volume-weighted average price minus a 3.0% discount. The company issued B. Riley 21,969 initial commitment shares and will issue up to 65,907 additional shares as various funding milestones are reached, with Nasdaq rules capping issuances at 19.99% of outstanding shares unless shareholder approval is obtained. Additionally, Sean Wallace was appointed as Executive Vice President and Chief Financial Officer effective May 10, 2022, with Shanti Gupta serving as acting principal financial officer in the interim.