AST SpaceMobile $1.15 billion convertible senior notes offering
The 2% convertible senior notes are due 2036
Davis Polk acted as special product counsel to the representatives of the several initial purchasers, in connection with a Rule 144A offering by AST SpaceMobile, Inc. of an aggregate principal amount of $1.15 billion of its 2.00% convertible senior notes due 2036, which included $150 million aggregate principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.
AST SpaceMobile is a satellite designer and manufacturer that is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio and designed for both commercial and government applications.
The Davis Polk equity derivatives team included partner Caitlin L. Wood, counsel Hanbing Zhang and Joseph Luizzi and associate Melissa X. Estrada. The tax team included partner Lucy W. Farr and associate Jenna Battaglia. All members of the Davis Polk team are based in the New York office.