(NASDAQ: ASTS), the company building the first space-based cellular broadband network accessible directly by standard smartphones designed for both commercial and government use, today provided an interim business update. The launch of AST SpaceMobile’s upcoming satellites is targeted on or after September 12th from Cape Canaveral, Florida and over $155.0 million in proceeds is expected from its previously-announced redemption of warrants, resulting in over $440.0 million in cash on a pro forma basis as of June 30, 2024.
The first five commercial satellites, called BlueBirds, each featuring the largest ever commercial communications arrays to be deployed in low Earth orbit, represent a significant milestone in AST SpaceMobile’s mission to bridge the digital divide and provide reliable cellular broadband service to billions worldwide in partnership with mobile network operators (MNOs).
This large array of antennas is designed to reach standard smartphones directly at cellular broadband speeds for voice, data and video and other non-communications government applications. After launch, the BlueBird satellites are planned to offer non-continuous cellular broadband service across the United States and in select markets globally. This initial service, based on premium low band spectrum, is planned to support beta test users for AT&T and Verizon, and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States.
“This is a pivotal moment for AST SpaceMobile as we bring our vision to enhance cellular connectivity globally, with the support of our strategic partners and the unwavering commitment of our team,” said Abel Avellan, Founder, Chairman, and CEO of AST SpaceMobile. “As we shift our manufacturing focus to increase Block 2 production of the active payload systems and other components for the first 17 Block 2 satellites, we are excited to bring this revolutionary technology to the world. We believe space-based broadband cellular connectivity will revolutionize how people connect, empowering communities and driving economic growth on a global scale.”
The exact timing of orbital launch is subject to change based on a number of factors, including launch readiness of the launch provider, weather conditions, and other factors, many of which are beyond our control.
Members of the public will be able to watch a live broadcast on the launch day on AST SpaceMobile’s YouTube channel.
