Atlas Credit Partners Provides $100M Strategic Financing To AST SpaceMobile
Portfolio Pulse from Happy Mohamed
Atlas Credit Partners (ACP) has provided a $100 million strategic financing to AST SpaceMobile, Inc. (ASTS), with $50 million funded at closing. The financing will help AST continue building a globally connected satellite-based cellular broadband network. The investment builds on AST's existing capital base of approximately $800 million and will support its partnerships with telecom industry leaders such as AT&T, Vodafone, and American Tower.
August 15, 2023 | 2:02 pm
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AST SpaceMobile received $100M strategic financing from Atlas Credit Partners, which will support its mission to build a global satellite-based cellular broadband network.
The strategic financing from Atlas Credit Partners will provide AST SpaceMobile with the necessary capital to continue its project, which could lead to increased investor confidence and a potential rise in stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100