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Benzinga
Benzinga
Business
Henry Khederian

AST SpaceMobile Stock Is Getting Hammered Friday: What's Going On?

AST SpaceMobile ASTS AST SpaceMobile Inc
Ast,Spacemobile,5g,Cellular,Broadband,Communication,Satellite,Technology,Network.,Calgary,

Shares of AST SpaceMobile Inc (NASDAQ:ASTS) are trading lower Friday morning after the company announced a new, large-scale debt offering and a stock-for-debt swap. Here’s what investors need to know.

What To Know: The satellite-to-phone company announced the pricing of $500 million in 2.375% convertible senior notes due 2032. These notes, offered privately to institutional buyers, feature an initial conversion price of approximately $72.07 per share, a 20% premium over Thursday’s closing price.

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