MIDLAND, Texas, March 9, 2022 (AST SpaceMobile PR) — AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today announced it has signed a multi-launch agreement with Space Exploration Technologies Corp. (“SpaceX”). In addition to the planned summer launch of the BlueWalker 3 test satellite (BW3), the agreement covers the launch of the BlueBird satellites and provides a framework for future launches.
“This agreement secures the availability for a reliable launch of our first production satellites out of the U.S.,” said AST SpaceMobile Founder, Chairman and CEO Abel Avellan. “Our summer launch of BlueWalker 3 will complete the development phase for our company. We have also been industrializing our technology and preparing for the launch of the BlueBird satellites, with this agreement as a key step”
Wall Street’s latest easy money craze has attracted a growing number of space companies. But, just because they can go public, should they?
by Douglas Messier Managing Editor
Seven space companies have gotten caught up in the SPACovirus sweeping through Wall Street. The impact on the space industry is going to be interesting to watch.
A SPAC is a special purpose acquisition company. It’s a publicly traded investment firm that, with outside investors, acquires or merges with another company, and then takes the acquisition public under its own name.
– AST & Science LLC (“AST SpaceMobile”) is building the first and only space-based cellular broadband network accessible directly by standard mobile phones
– AST SpaceMobile to become publicly listed through a business combination with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW)
– Combined company to have an estimated post-transaction enterprise value of $1.4 billion and will become listed on the NASDAQ under the ticker symbol “ASTS” following expected transaction close in the first quarter of 2021
– Transaction to provide up to $462 million in gross proceeds, comprised of New Providence Acquisition Corp.’s $232 million of cash held in trust (assuming no redemptions) and a $230 million fully committed common stock PIPE at $10.00 per share, including investments from Rakuten, Vodafone, American Tower, UBS O’Connor and a broad base of financial institutions