AST SpaceMobile gains as co confirms September orbital launch
by Contributor since / Followers
2 months ago
Shares of AST SpaceMobile (NASDAQ:ASTS) roses more than 7% on Wednesday after the company said that the launch of its upcoming satellites is targeted on or after September 12th from Cape Canaveral, Florida.
AST SpaceMobile (ASTS) also said that over $155.0 million in proceeds is expected from its previously announced redemption of warrants, resulting in over $440.0 million in cash on a pro forma basis as of June 30, 2024.
After launch, the BlueBird satellites are planned to offer non-continuous cellular broadband service across the United States and in select markets globally.
This initial service, based on premium low band spectrum, is planned to support beta test users for AT&T (T) and Verizon (VZ), and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States.