Filings
564 filings found
| Date | Type | Summary | |
|---|---|---|---|
| 2021-05-18 | NT 10-Q | AST SpaceMobile filed a late Form 10-Q for the quarter ended March 31, 2021, due to the substantial resources required to restate prior financial statements following the SEC's April 2021 guidance on SPAC warrant accounting. Net income for Q1 2021 is expected to drop significantly to approximately $597 thousand compared to $7.8 million in Q1 2020, primarily driven by changes in warrant fair value accounting. | r/ASTS |
| 2021-05-18 | 10-Q | New Providence Acquisition Corp. completed its merger with AST & Science LLC on April 6, 2021, rebranding as AST SpaceMobile and securing approximately $227 million from its trust account plus $230 million in committed private investment to fund the combined entity's operations. The company is a pre-revenue, early-stage space technology venture organized as an up-C structure, with warrant liabilities of $66.1 million marked down from $68.1 million during the quarter, generating $597,000 in net income primarily from trust account interest and fair value gains on warrant revaluation. Management identified a material weakness in internal controls related to warrant accounting that resulted in a restatement of the prior year's financial statements following SEC guidance issued in April 2021. | r/ASTS |
| 2021-05-18 | 8-K/A | This is an amended 8-K filing updating financial disclosures for AST SpaceMobile's merger with New Providence Acquisition Corp., completed in April 2021. The amendment adds unaudited financial statements for AST & Science, LLC as of March 31, 2021 and pro forma combined financial information for the newly merged entity, along with related management discussion and analysis. The filing itself contains no new material business developments or financial figures, serving primarily to supplement documentation already submitted in prior amendments filed in April and May 2021. | r/ASTS |
| 2021-05-18 | 424B3 | New Providence Acquisition Corp. completed its merger with AST & Science LLC on April 6, 2021, acquiring approximately $227 million in trust account proceeds and raising an additional $230 million through private investment, resulting in the renamed AST SpaceMobile, Inc. beginning trading on Nasdaq under ticker ASTS with an up-C corporate structure. The company identified a material weakness in its warrant accounting controls related to improper classification of warrants issued during its September 2019 initial public offering, which required amendment of its prior-year financial statements following SEC guidance issued in April 2021. | r/ASTS |
| 2021-05-18 | 424B3 | AST SpaceMobile completed its merger with New Providence Acquisition Corp. on April 6, 2021, raising approximately $462 million in total proceeds from $232 million in trust account cash and a $230 million PIPE investment to fund development of its satellite-based cellular broadband network. The combined entity reported $951,000 in quarterly revenue for Q1 2021 against operating losses of $12.1 million, with the company burning through cash as it advanced construction of its BlueWalker 3 test satellite and maintained engineering operations across five global locations. | r/ASTS |
| 2021-05-14 | 424B3 | AST SpaceMobile completed a business combination with New Providence Acquisition Corp. on April 6, 2021, becoming a publicly traded company and acquiring $230 million in private investment capital to develop its LEO satellite constellation providing mobile broadband services globally. The company estimates it will need approximately $1.7 billion to design, build, and launch its planned 168-satellite SpaceMobile network, with commercial service expected to begin in 2023 after launching initial satellites covering equatorial regions, though the company has a limited operating history, no current revenues, and faces substantial execution risks including regulatory approval challenges, supply chain dependencies, and competition from other satellite operators. | r/ASTS |
| 2021-05-14 | EFFECT | AST SpaceMobile's registration statement on Form S-1 became effective on May 14, 2021, allowing the company to proceed with its initial public offering. The effectiveness of this registration statement enabled AST SpaceMobile to publicly offer and sell its securities to raise capital for its satellite-based mobile broadband network business. | r/ASTS |
| 2021-05-13 | S-1/A | AST SpaceMobile completed a business combination on April 6, 2021, merging with special purpose acquisition company New Providence Acquisition Corp. and registering to sell 28.75 million shares of Class A common stock and 6.1 million warrants, with a total offering valued at approximately $440 million. The company is developing a satellite-based mobile broadband network using 168 low Earth orbit satellites designed to provide global cellular coverage to standard unmodified mobile phones, pending first revenue generation in 2023 after initial commercial satellite launches, though the business faces substantial development risks, capital requirements, regulatory hurdles, and competitive threats from established satellite operators and terrestrial wireless providers. | r/ASTS |
| 2021-05-13 | CORRESP | AST SpaceMobile requested accelerated effectiveness of its Form S-1 registration statement filed on May 6, 2021, asking the SEC to declare it effective by 4:00 p.m. on May 14, 2021 to enable the company to proceed with its initial public offering. The company designated its legal counsel at Latham & Watkins as the primary contacts for SEC notification of the registration statement's effectiveness. | r/ASTS |
| 2021-05-10 | UPLOAD | Annual report to shareholders (PDF document). View the original document for full content. | r/ASTS |
| 2021-05-06 | 10-K/A | AST SpaceMobile restated its financial statements after an April 2021 SEC guidance clarification required warrant liabilities to be measured at fair value rather than classified as equity, resulting in a $55.7 million increase to accumulated deficit as of December 31, 2020 and identification of a material weakness in internal controls over financial reporting. The company, a blank-check SPAC formed to pursue a business combination, held $232.2 million in trust account assets as of year-end 2020 but reported a net loss of $51.96 million for 2020 driven primarily by a $52.15 million non-cash loss on warrant fair value changes, with only $131,151 in operating cash and a working capital deficit raising substantial going-concern doubts. | r/ASTS |
| 2021-05-06 | 8-K/A | In response to SEC guidance issued in April 2021 requiring warrant accounting treatment as liabilities rather than equity, AST SpaceMobile restated its previously issued financial statements for all periods from inception through December 31, 2020, and concluded that prior financial reports and earnings releases for these periods should no longer be relied upon. The company filed an amended 10-K on May 6, 2021 to reflect the reclassification of its private placement and public warrants, with detailed disclosures of the restatement's impact on previously reported amounts. | r/ASTS |
| 2021-05-06 | S-1 | AST SpaceMobile completed a business combination with New Providence Acquisition Corp. on April 6, 2021, merging the SPAC with AST & Science LLC to create a publicly traded satellite communications company planning to launch a global broadband network using 168 low-earth orbit satellites, with estimated development costs of approximately $1.7 billion and expected commercial service launch in 2023. The company raised $230 million through a private investment in public equity (PIPE) and has partnerships covering approximately 1.3 billion mobile subscribers, though it faces significant execution risks including satellite launch uncertainties, regulatory approvals needed in multiple countries, substantial capital requirements, and competition from established terrestrial networks and emerging satellite operators like SpaceX's Starlink. | r/ASTS |
| 2021-04-30 | 8-K | Following an SEC staff statement on warrant accounting, the company determined that its previously issued warrants must be reclassified from equity to derivative liabilities measured at fair value rather than equity securities, requiring restatement of all financial statements from inception through September 30, 2020. The company is amending its 2020 Form 10-K to reflect this reclassification and will disclose the impact on previously reported financial results, though the warrant terms themselves remain unchanged. | r/ASTS |
| 2021-04-26 | 3 | American Tower Corporation and its subsidiary ATC TRS II LLC acquired beneficial ownership of approximately 4.67 million shares and units in AST SpaceMobile as of April 16, 2021, consisting of 2.5 million Class A shares and 2.17 million common units convertible into Class B shares on a one-to-one basis starting April 6, 2022. The reporting persons became members of a stockholder group under a Stockholders' Agreement dated April 6, 2021, establishing their initial beneficial ownership stake in the company. | r/ASTS |
| 2021-04-23 | 8-K | On April 12, 2021, the SEC issued guidance requiring special purpose acquisition companies to classify certain warrants as liabilities measured at fair value rather than equity, which would require changes in fair value to be reported as non-cash gains or losses in earnings. AST SpaceMobile determined this new accounting treatment applies to its private placement and public warrants, necessitating a preliminary restatement of its 2020 Form 10-K and other prior filings, and the company is currently working with an independent valuation expert to assess the materiality of required adjustments. The company may file an additional Form 8-K if management, the board, or auditors conclude that previously issued financial statements should no longer be relied upon. | r/ASTS |
| 2021-04-23 | 8-K/A | AST SpaceMobile completed its business combination with New Providence Acquisition Corp. on April 6, 2021, but subsequently faced accounting complications when the SEC indicated that SPAC warrants should be classified as liabilities rather than equity, causing both the company's auditor and subsidiary auditor to withdraw authorization of previously filed financial statements. The company filed this amendment to remove audited financial statements and pro forma information from its initial 8-K filing pending completion of a materiality assessment regarding the warrant accounting treatment impact. | r/ASTS |
| 2021-04-16 | SC 13G | Citadel entities and Kenneth Griffin acquired approximately 3.0 million shares of AST SpaceMobile Class A common stock, representing about 5.8% beneficial ownership following the company's April 2021 initial public offering. The investment was made through multiple related Citadel vehicles, with Citadel Advisors managing a multi-strategy equities fund holding 2.6 million shares and Citadel Securities holding an additional 416,852 shares, and the filers certified the shares were acquired for investment purposes without intent to control the issuer. | r/ASTS |
| 2021-04-16 | SC 13D | American Tower Corporation and its subsidiary ATC TRS II LLC acquired an 8.6% stake in AST SpaceMobile through a business combination that closed on April 6, 2021, purchasing 2.5 million Class A shares at $10 per share for $25 million in a PIPE investment and receiving an additional 2.17 million LLC units and Class B shares. Under a stockholders agreement, American Tower gained the right to nominate one director to the company's board and agreed to voting restrictions that lock up its shares until April 2022, with the ability to exchange its LLC units for additional Class A shares on a one-to-one basis after that date. The investors retain the right to explore extraordinary corporate transactions and evaluate their investment on an ongoing basis depending on business performance, market conditions, and alternative opportunities. | r/ASTS |
| 2021-04-16 | SC 13D | Rakuten Mobile and founder Hiroshi Mikitani acquired a combined 38.64% stake in AST SpaceMobile following the company's April 6, 2021 business combination with New Providence Acquisition Corp., consisting of 28.5 million convertible units and 2.5 million Class A shares purchased for $25 million in a PIPE investment. The transaction established an umbrella partnership-C corporation structure with multiple governance provisions, including board representation rights for Rakuten and transfer restrictions on the acquired securities until April 6, 2022, after which the convertible units may be redeemed for additional Class A shares on a one-to-one basis. | r/ASTS |
| 2021-04-16 | SC 13D | The Cisneros family and their vehicle Invesat LLC acquired approximately 16.4-16.6% ownership stakes in AST SpaceMobile on April 6, 2021, following the company's business combination with blank-check acquisition company New Providence Acquisition Corp., investing $2 million in a PIPE offering at $10 per share and receiving 9.9 million convertible operating units of the underlying business. The investment grants the Cisneros entities board representation rights, director nomination privileges, and voting agreements with other major shareholders including Vodafone, Rakuten, and American Tower, with conversion rights to Class A Common Stock beginning April 6, 2022. | r/ASTS |
| 2021-04-16 | SC 13D | Vodafone Ventures Limited and Vodafone Group Plc completed their investment in AST SpaceMobile on April 6, 2021, acquiring 10.04 million shares and units representing a 16.5% stake through a combination of a $10 million direct equity purchase of 1 million Class A Common Stock and 9.04 million operating units in the underlying business entity. The transaction was structured as part of AST SpaceMobile's merger with New Providence Acquisition Corp., and Vodafone obtained board nomination rights, registration rights for resale of securities, and the ability to convert its operating units to Class A Common Stock beginning April 2022, subject to transfer restrictions and lock-up provisions through a stockholders agreement with other major investors including Abel Avellan, Rakuten, American Tower, and Invesat. | r/ASTS |
| 2021-04-16 | 3 | Vodafone Ventures Ltd and its parent Vodafone Group Plc disclosed beneficial ownership of over 10% of AST SpaceMobile following the April 6, 2021 business combination between New Providence Acquisition Corp. and AST & Science LLC, acquiring 1 million Class A shares, 9.04 million Class B shares, and 9.04 million AST Common Units that are convertible to Class A shares starting April 6, 2022. The AST Common Units were issued through a reclassification of existing limited liability company units at a conversion ratio of 1-to-14.50149869, establishing Vodafone as a significant strategic investor in the newly public satellite communications company. | r/ASTS |
| 2021-04-16 | 3 | Gustavo A. Cisneros and his affiliated entity Invesat LLC disclosed their initial beneficial ownership stakes in AST SpaceMobile following the company's April 6, 2021 business combination closing, acquiring approximately 10.2 million Class B common units and 200,000 Class A shares through a $2 million PIPE investment plus earlier purchases of New Providence Acquisition Corp units. The reporting persons also hold derivative securities including warrants exercisable at $11.50 per share, call options at $20 per share, and incentive equity options, with their holdings subject to a stockholders' agreement requiring coordinated voting on certain company matters alongside other major shareholders including Vodafone Ventures and Rakuten Mobile. | r/ASTS |
| 2021-04-12 | 8-K | On April 6, 2021, AST SpaceMobile completed its merger with special purpose acquisition company New Providence Acquisition Corp., raising approximately $456 million in gross proceeds to fund satellite development and operations. The combined company began trading on Nasdaq under ticker symbols ASTS and ASTSW, with existing AST equityholders and sponsors retaining approximately 77.8% ownership while public stockholders and PIPE investors each hold 12.7%, though the founders maintain 95.5% voting control through multi-class share structure. AST is manufacturing its BlueWalker 3 test satellite targeted for launch in late 2021 and holds strategic partnerships with major telecom companies including Rakuten Mobile, Vodafone, and others for providing satellite-based mobile services. | r/ASTS |