S-3

AST SpaceMobile filed a shelf registration statement on June 9, 2022, authorizing up to $500 million in potential offerings of Class A common stock, preferred stock, and debt securities to fund its satellite-based mobile broadband network ambitions. The company, which has not yet generated revenue, plans to deploy 168 low-earth-orbit satellites called BlueWalker to provide direct cellular connectivity to standard mobile phones globally, with preliminary agreements covering approximately 1.8 billion mobile subscribers and an estimated market opportunity exceeding $1.1 trillion. CEO Abel Avellan and his affiliates control approximately 88.3% of voting power through Class C shares, giving them effective control of the company's strategic direction until specified triggering events occur.