AST SpaceMobile shares rose 0.7% following the announcement of a $30 million prime contract award from the United States Space Development Agency for the Europa Track 2 Commercial Solutions program. The company also completed a $1.075 billion convertible notes offering in February 2026, consisting of a base $1 billion offering closed on February 17 and a $75 million add-on closed on February 20. The notes carry a 2.25% interest rate and mature in 2036, convertible into Class A common stock at a maximum rate of 10.3177 per $1,000 in principal. The company stated it plans to use the net proceeds of approximately $983.7 million to strengthen its balance sheet, accelerate global spectrum deployment, and advance AI monetization efforts. The company is scheduled to announce Q4 2025 earnings on March 2, 2026.
Read full analysisAST SpaceMobile shares rose 0.7% following the announcement of a $30 million prime contract award from the United States Space Development Agency for the Europa Track 2 Commercial Solutions program. The company also completed a $1.075 billion convertible notes offering in February 2026, consisting of a base $1 billion offering closed on February 17 and a $75 million add-on closed on February 20. The notes carry a 2.25% interest rate and mature in 2036, convertible into Class A common stock at a maximum rate of 10.3177 per $1,000 in principal. The company stated it plans to use the net proceeds of approximately $983.7 million to strengthen its balance sheet, accelerate global spectrum deployment, and advance AI monetization efforts. The company is scheduled to announce Q4 2025 earnings on March 2, 2026.
AST SpaceMobile is building the first space-based cellular broadband network designed to connect directly to standard smartphones without specialized hardware, targeting both commercial and government applications. The company recently completed a $1.075 billion convertible notes offering to fund deployment of its satellite constellation and has partnered with AT&T and Verizon for commercial service. Two government contracts in recent weeks — including a $30 million SDA deal — have bolstered its credibility as a defense contractor, though Wall Street's consensus target of $52.94 sits far below the current share price ahead of March 2 earnings.