AST SpaceMobile (ASTS) Registration Filing summary

Company overview and business model

• Developing a global cellular broadband network in space, accessible directly by standard smartphones for commercial and government use, leveraging a diverse IP and patent portfolio of 36 patent families worldwide.

• Service will be provided via a constellation of high-powered, large phased-array satellites in low Earth orbit, using spectrum controlled by mobile network operators (MNOs).

• Business model is based on revenue-sharing agreements with MNOs, enabling them to extend coverage without additional infrastructure investment.

• Initial commercial service will target areas outside terrestrial coverage, with phased deployment prioritizing the most commercially attractive MNO markets.

Financial performance and metrics

• No revenue generated from the SpaceMobile Service to date; limited revenue recognized in 2024 from a U.S. government contract and expected from gateway equipment sales.

• Plans to generate revenue from limited, noncontinuous service after launching five Block 1 BB satellites.

Use of proceeds and capital allocation

• No proceeds will be received from the resale of shares by the selling stockholder; all net proceeds go to the selling stockholder.

• Company will bear all registration and listing costs, while the selling stockholder pays commissions and discounts.