AST SpaceMobile prices $1.0 billion of 1.625% convertible notes due 2034

AST SpaceMobile priced $1.0 billion of 1.625% convertible senior notes due February 1, 2034, with an option for up to $150 million more. The initial conversion price is about $79.57 per share, a 20% premium, and capped call transactions have a cap price of $149.20 per share. The company said $96.9 million of net proceeds would pay for the capped calls, with the rest for growth initiatives and access to orbit.

• Size: $1.0 billion, with an option for up to $150.0 million more; coupon 1.625%; maturity February 1, 2034
• Initial conversion price about $79.57 per share (about a 20% premium)
• Capped call cap price $149.20 per share; $96.9 million of net proceeds used for the capped calls
• Settlement of the initial notes expected July 20, 2026