AST SpaceMobile (ASTS) Registration Filing summary

Company overview and business model

• Developing a global cellular broadband network in space, accessible directly by standard smartphones and government applications, 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 LEO, using spectrum controlled by mobile network operators (MNOs).

• Revenue model is based on partnerships with MNOs, using a revenue-sharing approach, with no need for end-users to purchase new equipment or subscribe directly.

• Initial commercial service will be limited and noncontinuous, targeting select geographies, with plans to expand coverage as more satellites are launched.

• Plans to achieve substantial service with approximately 95 satellites, with further expansion based on market demand.

Financial performance and metrics

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

• Ongoing capital expenditures for satellite assembly, integration, and testing, with future funding needs anticipated for continued expansion.

Use of proceeds and capital allocation

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

• Company will bear all costs related to registration, while the selling stockholder covers commissions and discounts.