- AST SpaceMobile ( NASDAQ: ASTS ) to sell its majority ownership stake in Lithuania-based NanoAvionics, a leading smallsat mission integrator and bus manufacturer at an enterprise valuation of ~$68 million.
- AST SpaceMobile will sell its majority stake NanoAvionics to Kongsberg Defence & Aerospace, the Nordic region’s largest industrial space company and global leader in maritime surveillance.
- The sale is expected to generate ~$28 million net cash proceeds and close in the third quarter of 2022.
- The transaction is expected to close in the third quarter of 2022.
- Shares of ASTS is up 3.6% premarket .
For further details see:
AST Spacemobile to divest its investment in Nanoavionics