AST SpaceMobile announces pricing of upsized $75M public offering of Class A common stock

AST SpaceMobile, Inc. (NASDAQ: ASTS) has announced the pricing of its previously announced public offering of its Class A common stock, par value $0.0001 per share (the "Class A Common Stock"). The Company has agreed to sell 13,636,364 shares of Class A Common Stock at a price to the public of $5.50 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 2,045,454 shares of Class A Common Stock at the public offering price, less the underwriting discounts and commissions, solely to cover over-allotments, if any.

The gross proceeds to the Company from the offering, before deducting underwriting discounts, commissions and other offering expenses, will be approximately $75.0 million ($86.25 million if the underwriter exercises its option to purchase additional shares in full). The Company intends to use the net proceeds of the offering for general corporate purposes.

The offering is expected to close on December 2, 2022, subject to the satisfaction of customary closing conditions.

B. Riley Securities is acting as sole book-running manager and underwriter for the offering.

The Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. The registration statement was declared effective on November 10, 2022. Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering.

You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at 1-703-312-9580 or by e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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