AST SpaceMobile, Inc.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000149315225001119

Comments: On January 5, 2025, AST SpaceMobile, Inc.'s subsidiary, AST & Science, LLC, entered into a Strategic Collaboration Term Sheet with Ligado Networks LLC to gain long-term access to 45 MHz of lower mid-band spectrum for direct-to-device satellite applications. This agreement supports the restructuring of Ligado Networks, which filed for Chapter 11 bankruptcy protection on the same day. The Strategic Collaboration includes AST promising various forms of compensation to Ligado, including warrants and cash or stock options. AST is also set to receive a significant financing commitment of $550 million to facilitate this deal. In addition, the Restructuring Support Agreement was signed by Ligado and AST, outlining terms to negotiate the Definitive Agreements needed for this collaboration while establishing conditions against alternative transactions during the restructuring process. The agreement emphasizes AST's role in promoting Ligado's restructuring efforts and the dependency of the planned transactions on Bankruptcy Court approval.

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