{"id":52930,"date":"2023-08-15T20:24:49","date_gmt":"2023-08-15T12:24:49","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/ast-spacemobile-secures-funding-for-first-5-commercial-direct-to-cell-satellites\/"},"modified":"2023-08-15T20:24:49","modified_gmt":"2023-08-15T12:24:49","slug":"ast-spacemobile-secures-funding-for-first-5-commercial-direct-to-cell-satellites","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/ast-spacemobile-secures-funding-for-first-5-commercial-direct-to-cell-satellites\/","title":{"rendered":"AST SpaceMobile Secures Funding for First 5 Commercial Direct-to-Cell Satellites"},"content":{"rendered":"<\/p>\n<p><b>AST SpaceMobile <\/b>secured a financing package that funds the launch of its first five direct-to-cell commercial satellites, the company announced Monday.&nbsp;<\/p>\n<p>CFO Sean Walllace said the company secured up to $115 million in loans, in addition to a $57 million common stock offering and $7 million raised under a market program. Atlas Credit Partners announced that it provided a $100 million credit facility, with $50 million funded at closing.&nbsp;<\/p>\n<p>AST SpaceMobile has reported making two-way voice calls to unmodified smartphones and 4G capabilities using the BlueWalker 3 test satellite launched last year. The company is now manufacturing the first five commercial satellites for satellite-to-cell services, ahead of planned launch in the first quarter of 2024.&nbsp;<\/p>\n<p>\u201cThis quarter we achieved space-based 4G LTE cellular broadband capabilities to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing alongside AT&amp;T, Vodafone and Nokia\u201d, said CEO Abel Avellan. \u201cWe are now laser-focused on the manufacturing of our BlueBird satellites. The first five satellites are fully-funded with a planned launch in Q1 2024 as we target to offer initial commercial service in 2024.\u201d<\/p>\n<p>The company also reported it is receiving interest in strategic investments in commercial payments.&nbsp;<\/p>\n<p>At the end of the second quarter, AST SpaceMobile reported 190.8 million in cash on hand. The company reported no revenue and a net loss of $49.6 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>AST SpaceMobile secured a financing package that funds the launch of its first five direct-to-cell commercial satellites, the company announced Monday.&nbsp; CFO Sean Walllace said the company secured up to $115 million in loans, in addition to a $57 million common stock offering and $7 million raised under a market program. Atlas Credit Partners announced [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":52931,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-52930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/52930"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=52930"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/52930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/52931"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=52930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=52930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=52930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}