AST SpaceMobile expects to gross at least $75M from new-share issue; investors take down stock on dilution concerns

by Peter B. de Selding

PARIS — Satellite-to-unmodified smartphone startup AST SpaceMobile increased the size of its Class A share offering by $10 million, saying it will generate $75 million before commissions and expenses.

Sole underwriter B. Riley has been given 30 days from Nov. 30 to exercise an option to purchase an additional 2.045 million AST Class A shares at the same price to cover over-allotments, which would generate another 11.25 million in proceeds to AST.

The company had warned shareholders in preparing the offering . . .

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