On February 20, 2026, AST SpaceMobile completed the sale of $75 million in additional 2.25% Convertible Senior Notes due 2036, bringing total outstanding convertible notes to $1.075 billion, with a maximum of approximately 11.1 million shares of Class A common stock potentially issuable upon conversion. The notes were issued to qualified institutional buyers in a private offering relying on Section 4(a)(2) of the Securities Act and carry an initial conversion rate of 10.3177 shares per $1,000 principal amount.