- AST SpaceMobile, Inc ASTS agreed to sell 13.6 million shares at $5.50 per share via a secondary public offering.
- The underwriter has 30 days to purchase up to 2 million shares to cover over-allotments.
- Also Read: What's Going On With AST SpaceMobile Stock Today?
- The company expects gross proceeds of $75.0 million from the offering.
- AST SpaceMobile plans to use the net proceeds for general corporate purposes.
- AST SpaceMobile held $199.5 million in cash and equivalents as of September 30.
- Price Action: ASTS shares traded lower by 11.36% at $5.62 in the premarket on the last check Wednesday.
- Photo Via Company
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