2023-06-28 01:36:59 ET
- AST SpaceMobile ( NASDAQ: ASTS ) has priced its upsized public offering of 12.5 million shares of Class A common stock, for total gross proceeds of approximately $59.4 million.
- The shares offering was increased from previously announced 12 million to 12.5 million shares of Class A common stock.
- Shares are down about 20.7% in after-hours trading on Tuesday at $5.05.
- Underwriters are granted an option to purchase up to an additional 1.87 million shares of Class A common stock.
- The offering is expected to close on or about June 30, 2023.
- "Net proceeds from the offering will be used for general corporate purposes, including expected cash payments related to launch services and related additional equipment and services in the third quarter of 2023," ASTS said in a statement.
For further details see:
AST SpaceMobile shares dip on pricing upsized $59.4M equity offering