AST SpaceMobile, Inc. (NASDAQ: ASTS) has announced the pricing of $1.0 billion aggregate principal amount of 2.250% convertible senior notes due 2036, in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The notes carry an initial conversion price of approximately $116.30 per share, representing a roughly 20% premium to the company's Feb. 11, 2026 closing price. The offering is expected to close on Feb. 17, 2026, subject to customary conditions.
AST SpaceMobile also granted initial purchasers an option to buy up to an additional $150 million of notes. Proceeds from the offering are expected to support global spectrum deployment, technology commercialization including artificial intelligence opportunities, government space initiatives, debt reduction and other general corporate purposes. This capital raise underscores the company's aggressive push to build the first and only global cellular broadband network in space, designed to operate directly with standard, unmodified mobile devices.
According to the company, its network is built on an extensive intellectual property and patent portfolio and is designed for both commercial and government applications. AST SpaceMobile's mission is to enable 4G and 5G space-based cellular broadband to every device, everywhere, for today's nearly 6 billion mobile subscribers globally. The announcement comes as the company continues to scale its operations and secure funding for its ambitious satellite constellation.
The full press release is available at https://ibn.fm/4WSR2. This offering represents a significant milestone for AST SpaceMobile, providing the financial resources needed to accelerate deployment of its space-based network and pursue emerging opportunities in AI and government space programs.
