424B5

AST SpaceMobile raised $100 million in a public stock offering on January 18, 2024, with shares priced at $4.28 each, while simultaneously securing $110 million in convertible notes from strategic investors AT&T, Google, and Vodafone who also committed to commercial partnerships and service revenue agreements. The company, which is building a satellite-based cellular broadband network to provide connectivity to unmodified smartphones, had $88.1 million in cash as of December 31, 2023 (down from $239.3 million a year prior) due to increased spending on satellite assembly and infrastructure, with preliminary full-year 2023 operating expenses between $216.8 million and $222.5 million compared to $152.9 million in 2022.