What Happened: After the market close on Wednesday, AST SpaceMobile announced plans to offer $400 million worth of convertible senior notes due 2032 in a private offering to institutional investors.
The company said it also intends to grant the initial purchasers a 13-day period to purchase up to an additional $60 million of the notes.
AST SpaceMobile plans to use a portion of the net proceeds to pay the cost of capped call transactions. The remaining proceeds will be used for working capital and other general corporate purposes.
AST SpaceMobile last reported earnings in November, ending the period with $518.9 million in cash, cash equivalents and restricted cash.
AST Price Action: AST SpaceMobile shares were down 13.74% in after-hours, trading at $19.41 at the time of publication Wednesday, according to Benzinga Pro.
Read Next:
Photo: Courtesy of AST SpaceMobile.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
