Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
AST SpaceMobile ( (ASTS) ) has provided an announcement.
On January 22, 2025, AST SpaceMobile announced its decision to convert approximately $148.5 million of its 5.50% convertible PIK toggle notes due 2034 into shares of Class A common stock, at a conversion price of $5.75 per share, resulting in the issuance of approximately 25.8 million shares. This move aims to streamline the company’s financial obligations and improve its capital structure by eliminating the 2034 Convertible Notes upon their conversion. Additionally, AST SpaceMobile revealed plans to offer $400 million in new notes, with an option for purchasers to acquire an additional $60 million, targeting qualified institutional buyers, indicating a strategic effort to enhance liquidity and financial flexibility.
More about AST SpaceMobile
YTD Price Performance: 6.75%
Average Trading Volume: 8,517,972
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $6.69B
Find detailed analytics on ASTS stock on TipRanks’ Stock Analysis page.
