Current Report (8-K)

On June 23, 2025, a Delaware bankruptcy court approved AST SpaceMobile's transaction with Ligado Networks to acquire long-term access to up to 45 MHz of lower mid-band spectrum in the United States and Canada for direct-to-device satellite applications. The company will pay approximately $550 million in consideration, with $535 million directed to Inmarsat as part of a settlement, structured as $420 million by October 31, 2025, $100 million by March 31, 2026, and $15 million upon regulatory approval and closing, supported by a $550 million non-recourse financing commitment and supplemented by Inmarsat's agreement to support the company's regulatory applications. SpectrumCo will also pay at least $80 million annually for spectrum usage rights and provide Ligado long-term net revenue sharing rights, with spectrum access payments beginning September 30, 2025, subject to regulatory approvals and other closing conditions.