© Reuters
MIDLAND, TX – AST SpaceMobile, a company specializing in space-based cellular broadband network development, announced today that it has secured a strategic investment totaling $155 million from industry giants AT&T (NYSE:), Google (NASDAQ:), and Vodafone (NASDAQ:). The investment aims to accelerate the expansion of AST’s satellite-to-cell fleet following a successful technological demonstration.
The funding package includes $110 million in the form of subordinated convertible notes, priced at $5.75 per share. Alongside this, the company has received revenue commitments totaling $45 million, with $20 million coming from AT&T and $25 million from Vodafone. AST SpaceMobile also has access to a $51.5 million credit facility to further support its growth initiatives.
This financial boost comes on the heels of the successful test of AST’s BlueWalker 3 satellite, which notably established a direct 5G link with standard smartphones. This breakthrough suggests potential for widespread connectivity enhancements, especially in underserved areas around the globe.
In addition to the financial investment, both AT&T and Vodafone have initiated purchases of network equipment from AST. Google’s involvement extends to integrating the SpaceMobile network with Android devices, signaling a collaborative effort to enhance mobile connectivity through satellite technology.
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