AST SpaceMobile Confirms September 12 Launch Target For BlueBird Satellites, Largest Communications Array Deployed In Low Earth Orbit; Expects Over $440M In Cash Following $155M Warrant Redemption Proceeds
Portfolio Pulse from Benzinga Newsdesk
AST SpaceMobile has confirmed a September 12 launch date for its BlueBird satellites, which will be the largest communications array deployed in low Earth orbit. The company also expects to have over $440 million in cash following $155 million from warrant redemption proceeds.
September 04, 2024 | 12:43 pm
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AST SpaceMobile is set to launch its BlueBird satellites on September 12, marking the largest communications array in low Earth orbit. The company anticipates over $440 million in cash, bolstered by $155 million from warrant redemptions.
The launch of the BlueBird satellites represents a significant technological milestone for AST SpaceMobile, potentially enhancing its market position and investor confidence. The expected cash inflow from warrant redemptions strengthens the company's financial position, likely positively impacting its stock price in the short term.
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