AST SpaceMobile shares are trading lower after the company announced pricing of an upsized offering of Class A common stock.
Portfolio Pulse from Benzinga Newsdesk
AST SpaceMobile has announced the pricing of an upsized offering of Class A common stock, leading to a decrease in its share price.
June 28, 2023 | 12:23 pm
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AST SpaceMobile's stock price has fallen following the announcement of an upsized offering of Class A common stock.
The announcement of an upsized offering of Class A common stock by AST SpaceMobile has led to an increase in the supply of shares. This increase in supply, without a corresponding increase in demand, has put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100