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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): February 16, 2024
AST
SpaceMobile, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-39040 |
|
84-2027232 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
Midland
Intl. Air & Space Port
2901
Enterprise Lane
Midland,
Texas |
|
79706 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(432)
276-3966
Registrant’s
telephone number, including area code
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Class
A common stock, par value $0.0001 per share |
|
ASTS |
|
The
Nasdaq Stock Market LLC |
Warrants
exercisable for one share of Class A common stock at an exercise price of $11.50 |
|
ASTSW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
7.01. Regulation FD Disclosure.
On
February 16, 2024, Abel Avellan, Chairman and Chief Executive Officer of AST SpaceMobile, Inc. (“AST SpaceMobile” or the
“Company”) appeared at a press conference in Tokyo, Japan, alongside Rakuten Mobile, Inc., one of the Company’s stockholders.
Rakuten announced that Rakuten Mobile plans to provide satellite-to-mobile service in Japan with AST SpaceMobile starting in 2026. The
actual timing of the initiation of such service and the scope of such service is uncertain and is subject to a number of factors, including
those outside of the control of AST SpaceMobile. See “Forward-Looking Statements” below.
Forward-Looking
Statements
This
communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that
could cause actual results of the Company to differ materially from those expected and projected. These forward-looking statements can
be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,”
“expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,”
“projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or
other variations or comparable terminology.
These
forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from
the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause
such differences include, but are not limited to: (i) expectations regarding the Company’s strategies and future financial performance,
including the Company’s future business plans or objectives, products and services, pricing, marketing plans, operating expenses,
market trends, revenues, liquidity, cash flows, uses of cash and capital expenditures; (ii) expected functionality of the SpaceMobile
Service; (iii) the timing of the assembly, integration and testing as well as regulatory approvals for the launch of the Company’s
Block 1 BB satellites; (iv) anticipated timing and level of deployment of satellites and anticipated developments in technology included
in the Company’s satellites; (v) anticipated demand and acceptance of mobile satellite services; (vi) anticipated costs necessary
to execute on the Company’s business plan, which costs are preliminary estimates and are subject to change based upon a variety
of factors, including but not limited to the Company’s success in deploying and testing its constellation of satellites; (vii)
anticipated timing of the Company’s needs for capital or expected incurrence of future costs; (viii) prospective performance and
commercial opportunities and competitors; (ix) the Company’s ability to comply with domestic and foreign regulatory regimes and
the timing of obtaining regulatory approvals; (x) the Company’s ability to continue to raise funds to finance its operating expenses,
working capital and capital expenditures; (xi) commercial partnership acquisition and retention; (xii) the negotiation of definitive
agreements with mobile network operators and governmental entities relating to the SpaceMobile Service that would supersede preliminary
agreements and memoranda of understanding; (xiii) success in retaining or recruiting, or changes required in, officers, key employees
or directors; (xiv) the Company’s expansion plans and opportunities, including the size of its addressable market; (xv) the Company’s
ability to invest in growth initiatives and enter into new geographic markets; (xvi) the possibility that the Company may be adversely
affected by other economic, business, and/or competitive factors; (xvii) changes in applicable laws or regulations; (xviii) the outcome
of any legal proceedings that may be instituted against the Company; (xix) the Company’s ability to deal appropriately with conflicts
of interest in the ordinary course of its business; and (xx) other risks and uncertainties indicated in the Company’s filings with
the SEC, including those in the Risk Factors section of the Company’s Form 10-K filed with the SEC on March 31, 2023.
The
Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual
results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors incorporated
by reference into the Company’s Form 10-K filed with the SEC on March 31, 2023. The Company’s securities filings can be accessed
on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company
disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future
events or otherwise.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
February 16, 2024
|
AST
SPACEMOBILE, INC. |
|
|
|
|
By: |
/s/
Sean R. Wallace |
|
Name:
|
Sean
R. Wallace |
|
Title: |
Chief
Financial Officer |
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