SC 13D/A

0001493152-24-027035 — Filed 2024-07-11

Form type: SC 13D/A

Filing date: 2024-07-11

Accepted: 2024-07-12 01:00 UTC

Day change: +9.33% (2024-07-12)

Description: N/A

Document: formsc13da.htm

Format: html

Size: 60.2 KB

Download status: downloaded

AI Summary

Abel Avellan, the company's founder and controlling shareholder, filed an amended Schedule 13D disclosing that his beneficial ownership of AST SpaceMobile's Class A Common Stock decreased from a higher percentage to 34.2% of outstanding shares (78.2 million shares), solely due to the company issuing additional shares under an equity distribution agreement rather than any sale by Avellan himself. Avellan retains an 80.4% voting interest through his ownership of all Class C Common Stock, which carries ten votes per share with no economic rights, maintaining effective control of the company despite the diluted economic ownership percentage.

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