Current Report (8-K)

AST SpaceMobile finalized a transformational spectrum deal with bankrupt Ligado Networks on March 22, 2025, gaining access to up to 45 MHz of lower mid-band spectrum in the U.S. and Canada for satellite direct-to-device service, complementing its existing low-band spectrum plans. Under the definitive agreements, AST will pay Ligado $350 million in cash plus an optional $200 million, along with at least $80 million in annual payments for L-band spectrum usage with potential equity alternatives, while also issuing approximately 4.7 million warrants at $0.01 per share and granting board observer rights to Cerberus and Fortress. The transaction, subject to bankruptcy court approval, positions AST to deploy larger communications arrays in orbit while Ligado retains ownership of its spectrum licenses and assets pending resolution of pending litigation.