AST SpaceMobile, the company developing the first space-based cellular broadband network for direct access via standard smartphones, announced the completion of its redemption of all outstanding publicly traded warrants (the “Public Warrants”) for shares of Class A common stock, priced at $0.0001 per share. These Public Warrants were originally issued under a Warrant Agreement from September 13, 2019, between AST SpaceMobile (formerly New Providence Acquisition Corp.) and Continental Stock Transfer & Trust Company, the warrant agent. The warrants were redeemed at a price of $0.01 per warrant as of 5:00 p.m. New York City time on September 27, 2024.
On August 28, 2024, AST SpaceMobile announced its intention to redeem the Public Warrants, issuing a Notice of Redemption. By the Redemption Date, approximately 98.26% of the 13,360,574 Public Warrants were exercised at $11.50 per share, generating approximately $153.6 million in proceeds for the company. The remaining 236,294 unexercised warrants were redeemed for a total of $2,362.94. Following this transaction, AST SpaceMobile has no Public Warrants outstanding.
As part of the redemption, the Public Warrants were delisted from the Nasdaq Global Select Market, with trading officially suspended on September 27, 2024. However, AST SpaceMobile’s Class A common stock will continue trading under the ticker symbol “ASTS” on Nasdaq.
