424B3

AST SpaceMobile entered into a $75 million equity line facility with B. Riley Principal Capital on May 6, 2022, allowing the company to sell up to 141.5 million shares at a 3% discount to volume-weighted average price, subject to a beneficial ownership cap of 4.99% and a 19.99% Exchange Cap unless shareholders approve. The company issued B. Riley 21,969 initial commitment shares immediately and will issue additional commitment shares upon achieving milestones ($25 million and $50 million in proceeds), with the facility lasting 24 months from effectiveness and terminable by either party with five trading days' notice.