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AST SpaceMobile is conducting a registered direct offering of Class A Common Stock at $96.27 per share (as of February 10, 2026) and simultaneously launching a $1 billion convertible notes offering due 2036, with plans to use proceeds to repurchase up to $50 million of higher-interest 4.25% convertible notes and fund satellite deployment and operations. The company reported preliminary 2025 revenues of $63-71 million against operating expenses of $355-363 million, with $2.78 billion in cash and equivalents as of December 31, 2025, and has partnerships with over 50 mobile network operators representing 3 billion subscribers globally to provide 4G/5G cellular broadband directly to standard smartphones via its BlueBird satellite constellation.