Financial Risks - The company faces potential default risks due to non-compliance with covenants in its debt instruments, which could adversely affect its financial condition and liquidity[157]. - Servicing debt requires cash that could otherwise fund business plans, and insufficient cash flow may hinder scheduled payments[159]. - If cash flows are inadequate, the company may face liquidity issues, leading to reduced investments or asset disposals[160]. - The company may incur significant expenses related to the Tax Receivable Agreement, which could impact its financial condition[195]. - The Tax Receivable Agreement (TRA) requires the company to pay TRA Holders 85% of tax savings realized from certain tax attributes, which could result in substantial cash payments[197]. - Payments under the TRA will reduce overall cash flow available to the company, and any unpaid amounts will accrue interest until paid[203]. - The company may incur material payments under the TRA that could adversely affect its financial condition[202]. - If the company cannot raise additional capital, it may face going concern qualifications in future financial statements, negatively impacting stock price[209]. Operational Risks - The company relies on third parties for satellite launches, and any failure in this area could delay the operational timeline of the SpaceMobile Service[162]. - Operational problems with satellites could disrupt service quality, affecting customer satisfaction and revenue[167]. - The company’s satellites have a limited lifespan, and in-orbit malfunctions could lead to significant impairment charges[170]. - Cyberattacks pose a significant risk to the company's operations, potentially leading to equipment failures and reputational damage[179]. - The shared use of terrestrial broadband spectrum requires implementation of procedures to avoid harmful interference, which remains to be practically proven[188]. - The company may face challenges in obtaining necessary governmental approvals, which could compromise its ability to generate revenue or conduct business in certain countries[183]. - The inability to provide the SpaceMobile Service in certain markets could impair the company's revenue and growth plans[186]. Regulatory and Compliance Risks - The company is subject to extensive government regulation worldwide, which may increase the cost of providing services and expansion into new markets[182]. - The company expects to provide the SpaceMobile Service in the U.S. and elsewhere on frequencies not regularly allocated for mobile-satellite service, requiring regulatory approval from the FCC[187]. - Regulatory changes could significantly affect the company's business, including potential limitations on service offerings in important jurisdictions[186]. - The company may be subject to financial penalties or enforcement actions if it fails to comply with regulatory requirements related to commercial mobile radio service[189]. Capital and Investment Needs - The company anticipates significant capital needs to develop the SpaceMobile Service, including costs for satellite design, development, and launch[210]. - The company may face substantial dilution from future equity offerings, which could be significant given its capital requirements[208]. - A $550 million financing commitment has been obtained to support the Ligado Transaction, but it is subject to conditions and may not be secured[221]. Corporate Governance and Structure - The multi-class structure of the company's Common Stock concentrates voting power with the CEO, potentially limiting investor influence over important transactions[192]. - Anti-takeover provisions in the company's organizational documents may delay or prevent beneficial changes in control[212]. Transactions and Agreements - The Ligado Transaction involves a binding agreement for long-term access to up to 45 MHz of lower mid-band spectrum in the U.S. and Canada for direct-to-device satellite operations[216]. - The company may face significant dilution as it is required to issue approximately 4.7 million shares of Class A Common Stock and pay $350 million in cash or stock upon consummation of the Ligado Transaction[218]. - The Ligado Transaction is contingent upon regulatory approvals and the approval of the Delaware bankruptcy court overseeing Ligado's restructuring[217]. - The company anticipates that the Ligado Transaction will enhance its technology and space-based network capabilities, integrating low-band and mid-band spectrum[219]. - There are risks associated with the integration of Ligado's assets, including potential disruptions to business operations and technology issues[220]. Financial Position and Market Conditions - The company holds $567.5 million in cash and equivalents as of December 31, 2024, with interest rate risk potentially impacting annual interest income[366]. - The 2034 Convertible Notes, totaling $145 million, were fully outstanding as of December 31, 2024, and were converted into shares of Class A Common Stock in January 2025[367]. - A capital equipment loan of $15 million was secured in August 2023, with a variable interest rate based on the Prime Rate plus 0.75%[368]. - The market price of the company's Class A Common Stock may be volatile due to various risk factors, including market conditions and investor confidence[227]. - The company entered into a term loan with Loan Star totaling $5.0 million, with $4.5 million outstanding as of December 31, 2024[369]. - The term loan has a fixed interest rate, eliminating financial statement risk from interest rate changes[369]. - Revenue and operating expenses are primarily denominated in U.S. dollars, resulting in minimal foreign currency risk[370]. - Future exposure to foreign currency fluctuations may increase as operations grow[371]. - The company did not enter into any forward foreign currency exchange contracts for the periods presented[372]. - There is a potential for the company to engage in forward foreign currency exchange contracts in the future as exposures become material[372].

SpaceMobile Transforming how the world connects NASDAQ: ASTS Business Update – Third Quarter 2024 November 14, 2024 ast-science.com ast-science.com Forward Looking Statements The information in this presentation and the oral statements made in connection therewith includes "forward-looking statements" for the purposes of federal securities laws that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All stateme ...

Financial Data and Key Metrics Changes - In Q3 2024, AST SpaceMobile reported non-GAAP adjusted cash operating expenses of $45.3 million, an increase from $34.6 million in Q2 2024 [29] - Capital expenditures for Q3 2024 were $26.5 million, up from $21.2 million in Q2 2024, driven by the ramp-up of Block 2 BlueBird satellite production [32] - The cash balance at the end of Q3 2024 was $518.9 million, significantly up from $287.6 million at the end of Q2 2024, marking the first time cash exceeded $500 million [33] Business Line Data and Key Metrics Changes - The company successfully launched and deployed five Block 1 BlueBird satellites, which are the largest commercial communications arrays ever deployed in low Earth orbit [28] - The Block 1 satellites are now operational, and the company is moving forward with integration with partner networks in the U.S. [10][12] Market Data and Key Metrics Changes - The company aims to provide continuous service coverage in the U.S. with 45 to 60 satellites, which could potentially cover hundreds of millions of subscribers in key markets including the U.S., Europe, and Japan [44] - The government contract pipeline shows strength, with several contracts potentially growing to hundreds of millions in annual revenues [22] Company Strategy and Development Direction - AST SpaceMobile is focused on building the first global cellular broadband network in space, targeting unconnected populations and enhancing coverage for existing mobile users [6] - The company has secured launch agreements with Blue Origin and SpaceX for up to 60 satellites, enhancing confidence in achieving network deployment goals [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operationalization of the network, highlighting the successful launch and commercial progress as key steps towards connecting the unconnected [16] - The outlook for government contracts is improving, with expectations for these contracts to contribute significantly to revenue in the coming years [22] Other Important Information - The company achieved initial validation of its AST5000 chip, which represents a competitive advantage and is expected to support a tenfold increase in processing bandwidth for future satellites [11] - The company has filed for Special Temporary Authority approval with the FCC to begin beta services in the U.S. [25] Q&A Session Summary Question: How many potential subscribers could the 45 to 60 satellites cover? - The company estimates that with 45 to 60 satellites, the initial network capacity could serve hundreds of millions of potential subscribers [44] Question: What opportunities does the HALO program present for earning DoD contracts? - The HALO program could generate tens of millions in revenue and serve as a feeder for larger programs [46][48] Question: What is the current timeline for delivery of ASIC chips? - The ASIC is under initial test production, with plans to include it in launches by mid-2025 [49] Question: What have been learned from the first five BlueBird satellites? - The satellites are operating as expected, and the company is integrating them into the core networks of partners [51] Question: What is the timeline for testing the five satellites and putting them into commercial service? - The satellites are ready for operational use, pending FCC authorization for better services [74] Question: What is the pipeline for signing new commercial agreements with MNOs? - The company has a strong pipeline and is actively working on agreements with major partners [76]

Satellite Launch and Development - The company launched five first generation commercial BB satellites on September 12, 2024, with a total cost incurred of approximately $119.0 million, an increase of 3.3% over the previous estimate of $115.0 million[141]. - The next generation Block 2 BB satellites are expected to support peak data rates of up to 120 Mbps and require less power, with a design featuring the largest communication array ever deployed in LEO for commercial use[144]. - The company plans to launch up to approximately 45 Block 2 BB satellites between 2025 and 2026, with the first satellite expected to be sent to the launch provider in March or April 2025[148]. - The company aims to achieve substantial service in targeted geographical areas with the launch and operation of approximately 95 BB satellites, with plans for additional satellites to enhance coverage and capacity[150]. - The company is actively engaged in planning and procurement for the Block 2 BB satellites to meet its planned launches in 2025 and 2026, leveraging expertise from the Block 1 BB satellite development[147]. Revenue Generation - The SpaceMobile Service has not yet generated any revenue, but the company plans to initiate a limited, noncontinuous service in targeted geographical areas, including the United States, and validate non-commercial government applications[142]. - Beginning in Q1 2024, the company expects to recognize revenue from a U.S. Government contract and anticipates generating revenue from the resale of gateway equipment and associated services to MNOs and other third parties throughout 2024[143]. - The company expects to continue recognizing revenue under a U.S. Government contract throughout 2024 as performance obligations are completed[160]. - Revenues for the three months ended September 30, 2024 were $1.1 million, a 100% increase compared to $0 in the same period of 2023[173]. - Revenues for the nine months ended September 30, 2024, were $2,500,000, representing a 100% increase compared to the same period in 2023, attributed to a U.S. Government contract[185][186]. Financial Performance - A loss of $236.9 million was recorded on the remeasurement of warrant liabilities for the three months ended September 30, 2024, compared to a gain of $7.5 million in the same period of 2023[179]. - The net loss attributable to common stockholders for the nine months ended September 30, 2024, was $264.2 million, a 375% increase compared to a loss of $55.6 million in 2023[185]. - Net loss attributable to noncontrolling interest was $131.1 million for the three months ended September 30, 2024, compared to $29.8 million in the same period of 2023[183]. Operating Expenses - Total operating expenses increased by $25.0 million, or 16%, to $186.5 million for the nine months ended September 30, 2024, driven by higher engineering services and general administrative costs[185]. - General and administrative costs rose by $4.6 million, or 41%, to $15.6 million for the three months ended September 30, 2024[176]. - General and administrative costs rose by $14.6 million, or 47%, to $45.7 million, primarily due to a $12.4 million increase in stock-based compensation[188]. - Engineering services costs increased by $2.3 million, or 12%, to $21.8 million for the three months ended September 30, 2024[175]. - Research and development costs increased by $5.3 million, or 56%, to $14.7 million for the three months ended September 30, 2024[177]. - Research and development costs decreased by $13.3 million, or 36%, to $23.4 million, attributed to the completion of certain satellite subsystems and infrastructure programs[189]. - Depreciation and amortization expenses increased by $20.0 million, or 57%, to $54.9 million, mainly due to the commencement of depreciation for the BW3 test satellite[190]. - Depreciation and amortization expense decreased by $4.5 million, or 24%, to $14.5 million for the three months ended September 30, 2024[178]. Capital and Financing - The company has entered into a new Equity Distribution Agreement to sell shares of Class A common stock with an aggregate sales price of up to $400.0 million through an "at the market offering" program[152]. - The company sold shares of Class A Common Stock under the 2024 Sales Agreement for an aggregate sales price of up to $400.0 million[208]. - The company estimates needing to raise approximately $120.0 million to $170.0 million to meet current working capital needs and fund the launch of 20 Block 2 BB satellites[200]. - The company plans to raise additional capital through various means, including equity and debt securities, to support its operational and strategic needs[202]. - The company issued Convertible Notes for an aggregate principal amount of $110.0 million to AT&T, Google, and Vodafone, with a 5.50% annual interest rate[220]. - Public Warrants redemption resulted in the exercise of 13,358,174 warrants, generating net proceeds of $153.3 million during the three months ended September 30, 2024[155]. - During the nine months ended September 30, 2024, 13,358,174 Public Warrants were exercised, resulting in net proceeds of $153.3 million[209]. Cash Flow - Cash used in operating activities decreased to $97.7 million for the nine months ended September 30, 2024, compared to $124.0 million for the same period in 2023, a decrease of $26.3 million[226]. - Cash used in investing activities was $92.1 million for the nine months ended September 30, 2024, down from $96.5 million in the same period in 2023[227]. - Cash provided by financing activities increased significantly to $620.4 million during the nine months ended September 30, 2024, compared to $117.4 million in the same period in 2023, an increase of $503.0 million[228]. - As of September 30, 2024, the company had $518.9 million in cash and cash equivalents, including $2.5 million of restricted cash, and raised $298.2 million in net proceeds from Public Warrants exercises[196]. - As of September 30, 2024, cash, cash equivalents, and restricted cash totaled $518.9 million, compared to $135.7 million in 2023[231]. Commitments and Agreements - Contractual commitments with third parties totaled $130.7 million related to satellite components and future launch payments, with minimum commitments under launch agreements of approximately $105.0 million[205]. - The company received an initial $20.0 million commercial payment from Verizon Wireless, which will be credited against future service revenue[223]. - The AT&T Commercial Agreement includes a non-refundable commercial payment of $20.0 million due upon the launch of the Block 1 BB satellites[225]. Compliance and Reporting - The company prepared its unaudited condensed consolidated financial statements in accordance with U.S. GAAP, requiring management to make complex judgments and estimates that could materially impact reported financials[235]. - As of September 30, 2024, the company had no off-balance sheet arrangements[236]. - The company qualifies as a smaller reporting company and is not required to provide additional market risk disclosures[237].

Financial Performance - Revenues for the three months ended September 30, 2024, were $1,100,000, compared to $0 for the same period in 2023[13] - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(171,946,000), compared to $(20,909,000) for the same period in 2023[13] - Basic and diluted net loss per share for the three months ended September 30, 2024, was $(1.10), compared to $(0.23) for the same period in 2023[13] - Total comprehensive loss attributable to common stockholders for the three months ended September 30, 2024, was $(171,645,000), compared to $(21,056,000) for the same period in 2023[14] - Total operating expenses for the nine months ended September 30, 2024, were $186,538,000, an increase from $161,489,000 in 2023, representing a 15.5% increase[13] Cash and Liquidity - As of September 30, 2024, the company had cash, cash equivalents, and restricted cash totaling $518.9 million, benefiting from a $153.3 million net proceeds from warrant redemption[4] - Cash, cash equivalents, and restricted cash at the end of the period were $518,886,000, compared to $135,726,000 at the end of September 30, 2023[15] - Net cash used in operating activities for the nine months ended September 30, 2024, was $(97,703,000), compared to $(124,041,000) for the same period in 2023, indicating a 21.3% improvement[15] - Proceeds from the issuance of common stock for the nine months ended September 30, 2024, were $338,911,000, compared to $65,003,000 for the same period in 2023[15] Operating Expenses - Total operating expenses for Q3 2024 were $66.6 million, an increase of $2.7 million from $63.9 million in Q2 2024, primarily due to a $10.3 million increase in research and development costs[5] - Adjusted operating expenses for Q3 2024 were $45.3 million, reflecting a $10.7 million increase compared to $34.6 million in Q2 2024[5] - Engineering services costs for the three months ended September 30, 2024, were $21,202,000, with stock-based compensation of $(2,032,000), resulting in adjusted costs of $19,170,000[17] - Adjusted operating expenses, engineering services costs, and general and administrative costs are non-GAAP financial measures used by the company to evaluate operating performance[18] - These measures are not standardized under U.S. GAAP, limiting their comparability with similar measures from other companies[18] - The company uses these adjusted measures for preparing annual operating budgets and financial projections[18] Assets and Liabilities - The total liabilities as of September 30, 2024, were $318.8 million, compared to $147.3 million as of December 31, 2023[12] - The accumulated deficit as of September 30, 2024, was $(453.9) million, an increase from $(189.7) million as of December 31, 2023[12] - The total stockholders' equity increased to $502.8 million as of September 30, 2024, compared to $213.6 million as of December 31, 2023[12] Business Developments - The first five commercial BlueBird satellites successfully entered initial operations and filed a Special Temporary Authority request with the FCC to begin beta service with AT&T and Verizon[3] - The company secured new launch services agreements with Blue Origin and SpaceX for launches during 2025 and 2026, enabling the orbital launch of up to approximately 60 Block 2 BlueBird satellites[3] - The initial validation of the AST5000 ASIC chip was achieved, with plans for commissioning during 2025, supporting peak data transmission speeds up to 120 Mbps[3] - The company added three new contract awards with the U.S. Government, expanding its customer ecosystem and leveraging existing in-orbit technology capabilities[3] Other Financial Metrics - The company reported a loss on remeasurement of warrant liabilities of $(236,912,000) for the three months ended September 30, 2024[13]

Financial Data and Key Metrics - Non-GAAP adjusted cash operating expenses for Q2 2024 were $34.6 million, up from $31.1 million in Q1 2024, driven by final Block 1 satellite production costs and hiring for Block 2 development [20] - Capital expenditures for Q2 2024 were $21.2 million, down from $26.6 million in Q1 2024, as Block 1 satellite production was completed [21] - The company ended Q2 2024 with $287.6 million in cash, up from $212.4 million in Q1 2024, supported by a $55 million investment from Verizon and $80 million raised through an ATM equity facility [22][23] - Total spend for the five Block 1 satellites did not materially exceed the prior estimate of $115 million [21] Business Line Data and Key Metrics - The first five commercial BlueBird satellites are undergoing final preparation for launch in early September 2024, targeting nearly 100% geographical coverage for the continental United States [7][9] - The company is shifting focus to Block 2 satellite production, with the first 17 Block 2 satellites planned for launch starting in Q1 2025 [11] - The AST5000 ASIC chip, which enables a 10x improvement in processing bandwidth per satellite, has completed tape-out and is expected to be incorporated into Block 2 satellites [12] Market Data and Key Metrics - The company secured a $100 million commitment from Verizon, including $65 million in commercial prepayments and $35 million in convertible notes, adding to its strategic partnerships with AT&T, Vodafone, Google, and others [10] - Initial service activation for AT&T and Verizon beta test users will start with 5,600 sales across the U.S. after a few months of in-orbit service activation [9] - The company received an initial FCC license for Space-Based operations in the U.S., authorizing the use of V, F, and UHF frequencies for the first five commercial satellites [14] Company Strategy and Industry Competition - The company is transitioning from R&D to full-scale production and commercialization of its Space-Based cellular broadband network, with a focus on scaling the constellation and optimizing manufacturing costs [6][21] - The company is pursuing dual-use capabilities for both commercial and government applications, with early progress in government contracts and potential for larger, multi-year contracts in the future [16][17] - The company is vertically integrating approximately 95% of satellite subsystems to control IP and manufacturing processes, improving cost efficiency and production capacity [38] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the satellites to space weather conditions, including solar storms, based on data collected from BlueWalker 3 [32] - The company is prioritizing deployment in the U.S. market, followed by Vodafone markets, Rakuten in Japan, and other regions with prepayment commitments [30] - Management reiterated no plans for a public equity offering in 2024, focusing instead on non-dilutive funding from MNO partners and milestone-based capital [23][56] Other Important Information - The company completed the ASIC chip tape-out, marking a milestone after five years of R&D and approximately $45 million in development costs [12] - The company is working on developing a financing package from export credit agencies for long-term debt funding of large projects [26] Q&A Session Summary Question: What is the current production capacity for the 17 Block 2 satellites under construction? - The company is ramping up production capacity, with subsystems for 17 satellites being produced in advance, and vertically integrating 95% of the subsystems to control manufacturing processes [38] Question: What is the timeline for the initial Block 2 satellite launch? - The company is still tracking for a Q1 2025 launch for the initial Block 2 satellites [39] Question: What are the ARPU assumptions for the U.S. market? - The company did not provide specific ARPU guidance but expressed excitement about the revenue share model and adoption rates [41] Question: What is the timeline and key milestones from launch to commercial service? - The company plans to launch in early September 2024, with service activation expected within a few months, prioritizing U.S., Vodafone, and other prepaid markets [47] Question: What are the remaining regulatory approval processes in the U.S. and other countries? - The company is working with the FCC and other regulatory bodies, with initial markets trending positively and no significant showstoppers [52] Question: What are the funding requirements and capital sources for Block 2 and beyond? - The company is prioritizing non-dilutive funding from MNO partners and milestone-based capital, with no plans for a public equity offering in 2024 [55][56] Question: What is the outlook for larger government contract awards? - The company sees potential for larger, multi-year government contracts, with early tests and awards showing positive progress [60] Question: Is ASIC production a gating factor for scaling up Block 2 satellites? - ASIC production is not a prerequisite for launches, as the company can continue using FPGA configurations, but ASIC integration will significantly improve satellite capacity [63]

ast-science.com Business Update – Second Quarter 2024 August 14, 2024 Transforming how the world connects NASDAQ: ASTS Forward Looking Statements The information in this presentation and the oral statements made in connection therewith includes "forward-looking statements" for the purposes of federal securities laws that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39040 AST SPACEMOBILE, INC. name of registrant as specified in its charter) | --- | |----------------------------------------------- ...

Satellite Deployment and Technology - First 5 commercial satellites on target for dedicated orbital launch in first half of September, each the largest-ever communications arrays to be deployed commercially in low Earth orbit [3] - Secured FCC approval with initial license for launch of first 5 commercial satellites [3] - First 5 commercial satellites capable of U.S. nationwide non-continuous service with 5,600+ cells in premium low-band spectrum [4] - ASIC chip tape-out phase completed with TSMC, expected to support up to 10x improvement of processing bandwidth per satellite [4] - Initial Block 2 BlueBird planning and production of 17 satellites underway at AST SpaceMobile manufacturing facilities in Texas [4] Financial Performance and Expenses - As of June 30, 2024, AST SpaceMobile had cash, cash equivalents, and restricted cash of $287.6 million [5] - Total operating expenses for the second quarter of 2024 were $63.9 million, including $29.3 million of depreciation and amortization and stock-based compensation expense [5] - Total Adjusted operating expenses for the second quarter of 2024 were $34.6 million, an increase of $3.5 million as compared to $31.1 million in the first quarter of 2024 [5] - As of June 30, 2024, AST SpaceMobile has incurred approximately $347.5 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $99.3 million [5] - Revenues for the three months ended June 30, 2024, were $900 thousand, compared to no revenue in the same period in 2023 [17] - Total operating expenses for the three months ended June 30, 2024, were $63.893 million, up from $58.070 million in the same period in 2023 [17] - Net loss before allocation to noncontrolling interest for the three months ended June 30, 2024, was $131.350 million, compared to $49.589 million in the same period in 2023 [19] - Net cash used in operating activities for the six months ended June 30, 2024, was $64.274 million, compared to $87.989 million in the same period in 2023 [21] - Purchase of property and equipment for the six months ended June 30, 2024, was $61.770 million, up from $22.972 million in the same period in 2023 [21] - Proceeds from debt for the six months ended June 30, 2024, were $145.000 million, compared to no proceeds in the same period in 2023 [21] - Adjusted operating expenses for the three months ended June 30, 2024, were $34.627 million, after excluding stock-based compensation and depreciation and amortization [23] - Stock-based compensation expense for the three months ended June 30, 2024, was $8.874 million, primarily in engineering services and general and administrative costs [23] - Net cash provided by financing activities for the six months ended June 30, 2024, was $325.743 million, compared to $63.627 million in the same period in 2023 [21] - Cash, cash equivalents, and restricted cash at the end of June 30, 2024, were $287.567 million, up from $191.471 million at the end of the same period in 2023 [21] Non-GAAP Financial Measures - Adjusted operating expenses, Adjusted engineering services costs, and Adjusted general and administrative costs are non-GAAP financial measures used by the company to evaluate operating performance and manage the business [25] - These non-GAAP measures are used in preparing the company's annual operating budget and financial projections [25] - The non-GAAP measures have no standardized meaning under U.S. GAAP and may not be comparable to similar measures of other companies [25] - These measures are not substitutes for their most directly comparable GAAP measures: Total operating expenses, Engineering services costs, and General and administrative costs [25] Strategic Investments and Partnerships - Strategic investment by Verizon brings $100 million financial commitment, including $65 million of commercial prepayments and $35 million of convertible notes [3]

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q1 2024 Earnings Conference Call May 15, 2024 5:00 PM ET Corporate Participants Scott Wisniewski - Chief Strategy Officer Abel Avellan - Chairman and Chief Executive Officer Sean Wallace - Chief Financial Officer Conference Call Participants Mike Crawford - B. Riley Securities Brian Kraft - Deutsche Bank Andres Coello - Scotiabank Chris Schoell - UBS Chris Quilty - Quilty Analytics Operator Good day and thank you for standing by. Welcome to the AST SpaceMobile First Quart ...