AST & Science LLC to Become Public Company Through Combination with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW)
- AST & Science LLC ("AST SpaceMobile") is building the first and only space-based cellular broadband network accessible directly by standard mobile phones.
- Combined company to have an estimated post-transaction enterprise value of $1.4 billion and will become listed on the NASDAQ under the ticker symbol "ASTS" following expected transaction close in the first quarter of 2021.
Expected to have an equity value of approximately $1.8 billion at closing, or 1.4 times calendar year 2024's estimated EBITDA of approximately $1 billion. The company will have no debt on the balance sheet at closing.
- Transaction to provide up to $462 million in gross proceeds, comprised of New Providence Acquisition Corp.'s $232 million of cash held in trust (assuming no redemptions) and a $230 million fully committed common stock PIPE at $10.00 per share, including investments from Rakuten, Vodafone, American Tower, UBS O'Connor and a broad base of financial institutions
- AST SpaceMobile LLC shareholders Vodafone, Rakuten, American Tower, and Cisneros will increase their equity holding through participation in the PIPE financing in support of AST SpaceMobile's transition into the publicly listed company.
Backed by an extensive IP and patent portfolio, AST SpaceMobile will uniquely address the $1 trillion global mobile wireless services market
finance.yahoo.com/ne...ublic-120000891.html
- AST & Science LLC ("AST SpaceMobile") is building the first and only space-based cellular broadband network accessible directly by standard mobile phones.
- Combined company to have an estimated post-transaction enterprise value of $1.4 billion and will become listed on the NASDAQ under the ticker symbol "ASTS" following expected transaction close in the first quarter of 2021.
Expected to have an equity value of approximately $1.8 billion at closing, or 1.4 times calendar year 2024's estimated EBITDA of approximately $1 billion. The company will have no debt on the balance sheet at closing.
- Transaction to provide up to $462 million in gross proceeds, comprised of New Providence Acquisition Corp.'s $232 million of cash held in trust (assuming no redemptions) and a $230 million fully committed common stock PIPE at $10.00 per share, including investments from Rakuten, Vodafone, American Tower, UBS O'Connor and a broad base of financial institutions
- AST SpaceMobile LLC shareholders Vodafone, Rakuten, American Tower, and Cisneros will increase their equity holding through participation in the PIPE financing in support of AST SpaceMobile's transition into the publicly listed company.
Backed by an extensive IP and patent portfolio, AST SpaceMobile will uniquely address the $1 trillion global mobile wireless services market
finance.yahoo.com/ne...ublic-120000891.html