AST SpaceMobile Raises $75M Via Equity Offering

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.
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