Simpson Thacher represented the underwriter, Barclays Capital Inc., in in connection with the offering of Class A common stock of AST SpaceMobile, Inc. (“AST”). The offering of 12,500,000 shares of Class A common stock raised approximately $57 million in gross proceeds. AST has granted the underwriter an option to purchase an additional 1,875,000 shares of Class A common stock.
AST is building what it believes is the first space-based cellular broadband network designed to be accessible by standard unmodified mobile phones.
The Simpson Thacher team for this transaction included Roxane Reardon, John O’Connell, Jieun Lim (Capital Markets); Jessica Cohen and Corina Holland (IP); Ryan Stott (Executive Compensation and Employee Benefits); Michael Mann (Tax); Michael Isby (Environmental); and Jennie Getsin (FINRA & Blue Sky).