AST SpaceMobile(ASTS) - 2024 Q4 - Annual Results

Offering and Financing - The Company announced a proposed private offering of $400.0 million aggregate principal amount of convertible senior notes due 2032[10] - The Company plans to enter into capped call transactions in connection with the offering[10] - The Company intends to grant initial purchasers of the Notes an option to purchase an additional$ 60.0 million aggregate principal amount of Notes within a 13-day period[10] - The Notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act[11] Convertible Notes and Shares - Approximately $148.0 million aggregate principal amount of 5.50% convertible PIK toggle notes due 2034 will be converted into approximately 25.8 million shares of Class A common stock at a conversion price of$ 5.75 per share[7] - The principal amount of the 2034 Convertible Notes to be converted, plus accrued interest, is approximately $148.5 million[7] Financial Information and Updates - The Company provided preliminary unaudited financial information for the three months and year ended December 31, 2024, in its disclosure[5] - The Company’s liquidity update was included in the disclosures provided[5] Forward-Looking Statements - Forward-looking statements regarding the offering and capped call transactions were made, highlighting potential risks and uncertainties[14] - The Company assumes no obligation to update or revise any forward-looking statements except as required by law[14]