AST SpaceMobile Gets Investments From AT&T, Google
19 January 2024 - 9:00AM
Dow Jones News
By Will Feuer
AST SpaceMobile, a startup building a space-based cellular
network, said it has received a $155 million investment from
AT&T, Google and existing investor Vodafone.
The company had previously said it was closing in on a strategic
investment.
AST SpaceMobile said it also plans to draw up to $51.5 million
from the company's existing senior-secured credit facility, giving
it total new financing of $206.5 million.
AT&T has for years worked with AST SpaceMobile in a bid to
develop so-called direct-to-device capabilities, whereby satellites
beam service directly to unmodified cellphones. SpaceX is working
on a similar project with T-Mobiles. Others, including Apple with
Globalstar, are also pursuing similar plans.
AT&T's decision to take a stake in AST SpaceMobile deepens
the two companies' ties. The move also provides a potential
lifeline to an important AT&T partner.
AST said the investment is a mix of equity-linked capital and
non-dilutive commercial payments.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 18, 2024 16:45 ET (21:45 GMT)
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