Why AST SpaceMobile Shares Are Falling Wednesday
Portfolio Pulse from Adam Eckert
AST SpaceMobile Inc (NASDAQ:ASTS) shares are trading lower after the company announced a public offering of 12.5 million shares for gross proceeds of $59.4 million. The company plans to use the proceeds for general corporate purposes, including expected cash payments related to launch services and additional equipment in the third quarter. The offering is expected to close on June 30.
June 28, 2023 | 12:24 pm
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AST SpaceMobile's stock price is falling due to the announcement of a public offering of 12.5 million shares.
The announcement of a public offering often leads to a decrease in the stock price due to the dilution of shares. This is what is happening with AST SpaceMobile.
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