Current Report (8-K)

AST SpaceMobile secured $155 million in commitments from AT&T, Google, and Vodafone consisting of $110 million in subordinated convertible notes bearing 5.50% interest and $45 million in commercial payments, with an additional $100 million public stock offering and up to $51.5 million available under an existing credit facility for total potential proceeds of $306.5 million. The company's cash position declined to $88.1 million as of December 31, 2023 from $239.3 million a year earlier due to capitalized property and equipment costs of $234.1 million to $242.1 million, while operating expenses increased to $216.8 million to $222.5 million for the full year 2023. The company plans to launch its first five commercial BlueBird satellites in the second quarter of 2024 and has secured purchase orders for network equipment and service commitments from its strategic investors to support commercial operations following the launch.