0001493152-25-019292 — Filed 2025-10-24
Form type: 8-K
Filing date: 2025-10-24
Report date: 2025-10-21
Accepted: 2025-10-24 20:10 UTC
Items: 1.01,2.03,3.02,8.01,9.01
Day change: +7.80% (2025-10-27)
Description: 8-K
Document: form8-k.htm
Format: html (XBRL)
Size: 74.8 KB
Download status: downloaded
On October 24, 2025, the company completed a private offering of $1.0 billion in convertible senior notes due 2036 with a 2.00% annual interest rate and an initial conversion price of $96.30 per share, representing a 22.5% premium to the stock price on the announcement date. The notes are convertible into Class A common stock at a rate of 10.3845 shares per $1,000 principal amount and cannot be redeemed by the company before January 2029. Net proceeds of approximately $981.9 million will be used for general corporate purposes, including funding the deployment of the company's satellite constellation to expand its SpaceMobile service to additional strategic markets.