424B5

AST SpaceMobile is raising capital through a registered direct offering of Class A common stock and a concurrent offering of $500 million in convertible senior notes due 2032 to fund satellite development, operations, and a $550 million payment obligation to Ligado for spectrum access rights. The company, which operates a satellite-based cellular broadband network designed to work with standard smartphones, has launched five first-generation Block 1 satellites and successfully completed video calls with major carriers including Vodafone, AT&T, and Verizon, with plans to launch over 60 next-generation Block 2 satellites beginning in 2025 to achieve continuous service coverage across key markets like the United States, Europe, and Japan.