AST SpaceMobile Plans Convertible Notes Offering, Repurchase
MT Newswires Live07-25
AST SpaceMobile, Inc. said late Thursday it plans to repurchase up to $135 million of its 4.25% convertible senior notes due 2032.
AST SpaceMobile shares slumped 8% on the news.
The repurchase will be partially funded through the proceeds of a registered direct offering of class A common stock.
Separately, AST SpaceMobile said it intends to raise $500 million in a private offering of convertible senior notes due 2032.
It also intends to grant the initial purchasers an option to purchase up to an additional $75 million of the notes, the company said.
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