2024-09-30 | AST SpaceMobile announces preliminary results of the redemption of public warrants | NDAQ: ASTS

AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), a company building the first and only space-based mobile broadband network accessible directly via everyday smartphones for both commercial and government applications, today announced preliminary results of the redemption of all outstanding warrants public (“Public Warrants”) to purchase Class A ordinary shares with a par value of USD 0.0001 per share (“Class A Common Shares”), which were issued pursuant to the Warrant Agreement dated: September 13, 2019 ( “Warrant Agreement”), between AST SpaceMobile (f/k/a New Providence Acquisition Corp. (“NPA”)) and Continental Stock Transfer & Trust Company, as warrant agent (“Warrant Agent”), for a redemption price of $.01 per warrant (the “Redemption Price”) which remained unpaid as of 5:00 p.m. New York City time on Friday, September 27, 2024 (the “Redemption Date”).

On August 28, 2024, AST SpaceMobile issued a press release stating that, pursuant to the terms of the Warrant Agreement, it will redeem all remaining Public Warrants at the Redemption Price on the Redemption Date. Based on preliminary results, 13,581,996 Public Warrants were exercised for cash at an exercise price of $11.50 per share of Class A Common Stock, representing approximately 99.89% of the outstanding Public Warrants. As of the Maturity Date, a total of 260,987 Public Warrants were outstanding. The above results are preliminary and may change. Final results will be available after the brokerage protection period expires at 5:00 p.m., New York time, on October 1, 2024. Following the Maturity Date, the Company had no outstanding Public Warrants.

In connection with the redemption, the Public Warrants ceased trading on the Nasdaq Global Select Market (“Nasdaq”) and were withdrawn, and a trading suspension was announced on September 27, 2024. The Class A common stock continues to trade on the Nasdaq Stock Exchange under the symbol “ASTS”.

About AST SpaceMobile

AST SpaceMobile is building the first and only global broadband cellular network in space that will work directly with standard, unmodified mobile devices based on our extensive portfolio of intellectual property and patents and designed for both commercial and government applications. The mission of our space engineers and scientists is to close the connectivity gaps currently facing five billion mobile subscribers’ and finally bring broadband to the billions who remain disconnected. For more information, follow AST SpaceMobile on YouTube, X (formerly Twitter)LinkedIn and Facebook. Watch this video to learn about the SpaceMobile mission.

No offer or invitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of AST SpaceMobile and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This news release contains “forward-looking statements” that are not historical facts and involve risks and uncertainties that could cause AST SpaceMobile’s actual results to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would ” “potential,” “projects,” “anticipates,” “continue” or “should” or, in each case, negative or other variations thereof or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are beyond AST SpaceMobile’s control and are difficult to predict.

Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategy and future financial performance, including AST’s future business plans or objectives, the expected functionality of the SpaceMobile Service, the anticipated launch schedule of the Block 2 Bluebird satellites, the anticipated demand and acceptance of mobile satellite services, potential commercial performance and opportunities and competition, timing of regulatory approvals, ability to finance research and development activities, acquiring and maintaining commercial partnerships, products and services, prices, marketing plans, operating expenses, market trends, revenues , liquidity, cash flow and cash utilization, capital expenditures and AST SpaceMobile’ ability to invest in development initiatives; (ii) negotiating definitive agreements with mobile network operators for the SpaceMobile Service that would supersede preliminary agreements and memorandums of understanding and enable commercial agreements with other parties or governmental entities; (iii) AST SpaceMobile’s ability to grow and manage growth profitably and retain key employees, as well as AST SpaceMobile’s ability to respond to the actions of its competitors and its ability to compete successfully; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business and/or competitive factors; (vi) the outcome of any legal proceedings that may be brought against AST SpaceMobile; and (vii) other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission (SEC), including those contained in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on April 1, 2024.

AST SpaceMobile cautions that the above list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Information identifying important factors that could cause actual results to differ materially from those projected in forward-looking statements can be found in Risk Factors in AST SpaceMobile’ Form 10-K filed with the SEC on April 1, 2024. AST SpaceMobile&CloseCurlyQuote Access Documents Regarding SEC’ securities may be obtained from the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities laws, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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