424B5

AST SpaceMobile raised approximately $433.7 million through a registered direct offering of 4.5 million shares at $96.92 per share, while simultaneously offering $1 billion in convertible senior notes due 2036 and repurchasing $250 million of higher-cost 2.375% convertible notes to optimize its debt structure. The company plans to deploy its constellation of BlueBird satellites to provide cellular broadband directly to unmodified smartphones globally, with preliminary 2025 results showing approximately $63-71 million in revenues, $2.78 billion in cash reserves, and $1.6 billion in capitalized property and equipment as it accelerates satellite launches and pursues strategic transactions including spectrum access agreements with Ligado Networks.