Reported 1 day ago
AST SpaceMobile, Inc. (NASDAQ:ASTS) experienced a significant drop in share prices by 9.53% to $54.33 following investor concerns over its plan to raise $500 million through convertible senior notes. The notes, which carry a 2.375% yield, will be convertible into Class A shares at a price reflecting a 20% premium over the current stock price. The funds raised will be directed towards general corporate purposes and related costs.
Source: YAHOO