424B5

AST SpaceMobile is raising $161 million through a registered direct offering of 2.05 million shares at $78.61 per share, while simultaneously offering $1 billion in convertible senior notes due 2036 to fund satellite constellation deployment and general corporate purposes. The company, which is building a space-based cellular broadband network accessible directly to standard smartphones, has approximately $1.22 billion in cash as of September 30, 2025, and intends to use proceeds from the equity offering along with cash on hand to repurchase $50 million in principal amount of its 4.25% convertible notes.