AST SpaceMobile, Inc. Announces Pricing of Upsized Offering of Class A Common Stock

AST SpaceMobile, Inc. (NASDAQ: ASTS) (the “Company” or “AST SpaceMobile”) announced today the pricing and upsizing of its previously announced public offering of its Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), in an underwritten public offering. The Company has agreed to sell 12,500,000 shares of Class A Common Stock for gross proceeds of approximately $59.4 million. The Company intends to use the net proceeds of the offering for general corporate purposes, including expected cash payments related to launch services and related additional equipment and services in the third quarter of 2023.

The underwriter will offer the shares of Class A Common Stock from time to time for sale in one or more transactions on Nasdaq, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is expected to close on June 30, 2023, subject to customary closing conditions.

The Company has granted the underwriter a 30-day option to purchase up to an additional 1,875,000 shares of Class A common stock.

Barclays is acting as sole book-running manager and underwriter for the offering.

The Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. The registration statement was declared effective on November 10, 2022. The offering of these securities will be made only by means of a prospectus supplement and the accompanying prospectus. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847 or by e-mail at [e-mail].