AT&T, Google, and Vodafone Support AST’s Space-Based 5G Connectivity

AST SpaceMobile, a company aiming to build a space-based cellular broadband network accessible by everyday smartphones, has recently announced a strategic investment from AT&T, Google, and Vodafone. The goal of this investment is to eliminate cellular connectivity gaps around the world.

In addition to the $155 million invested by the companies, AST SpaceMobile plans to draw up to $51.5 million from the company's existing senior-secured credit facility. This additional funding will help support the development and deployment of the company's planned operational satellites.

The company's satellites will have the capacity to support up to 40 Mhz, potentially enabling data transmission speeds of up to 120 Mbps. With over 40 agreements with mobile network operators globally, AST SpaceMobile aims to provide its services to the 2 billion subscribers collectively serviced by these operators.

Last year, the company achieved a space-enabled 5G cellular broadband connection in a test using its BlueWalker 3 test satellite, AT&T spectrum, and in collaboration with Vodafone, AT&T, and Nokia. The test demonstrated a download rate of approximately 14 Mbps.

"With this strategic investment, we are gaining capital, invaluable expertise, and strategic partnerships," said Abel Avellan, Chairman and CEO of AST SpaceMobile. "Each new partnership signifies that market leaders worldwide have tremendous confidence in our vision and ability to ensure that the future of cellular broadband is borderless."

AST SpaceMobile has also recently announced a public offering of its Class A common stock, with gross proceeds of approximately $100,000,000 million ($115,000,000 million if the underwriter exercises its option to purchase additional shares in full). The company intends to use the proceeds for general corporate purposes.

Source: Example News