AST SpaceMobile to Begin Trading on Nasdaq as “ASTS” - Seite 2

AST SpaceMobile received $462 million in gross proceeds from the transaction, consisting of New Providence’s approximately $232 million cash in trust and approximately $230 million from a PIPE investment, including investments from Rakuten, Vodafone, American Tower, UBS O’Connor. The Company had no debt on the balance sheet at closing.

“With its innovative and patented technology solution, built-in access to 1.3 billion people through some of the world’s largest cellular operators, and efficient business model that enables worldwide expansion, we believe AST SpaceMobile is poised for significant and sustainable growth as a public company,” said Alex Coleman, Chairman of New Providence. “We are pleased to support AST SpaceMobile’s mission to achieve global cellular broadband connectivity and believe it is ideally positioned to capitalize on a unique market opportunity that will deliver compelling value to customers and investors over the long term.”

Barclays acted as financial advisor and capital markets advisor to AST SpaceMobile. Barclays and Deutsche Bank Securities Inc. acted as placement agents to New Providence in connection with the PIPE offering. Deutsche Bank Securities Inc. and BTIG LLC acted as financial and capital markets advisors to New Providence. Latham & Watkins LLP and Foley & Lardner LLP acted as legal counsel to AST SpaceMobile, and Kirkland & Ellis LLP acted as legal counsel to New Providence.

About AST SpaceMobile

AST SpaceMobile is building the first, and only, space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. AST SpaceMobile’s team of engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. Follow AST SpaceMobile on Twitter @AST_SpaceMobile, LinkedIn, and for an overview on the SpaceMobile mission, view this video.

About New Providence Acquisition Corp. 

New Providence Acquisition Corp. was a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. In September 2019, New Providence Acquisition Corp. consummated a $230 million initial public offering of 23 million units (reflecting the underwriters’ exercise of their over-allotment option in full).