AST SpaceMobile Announces Committed Equity Facility
On May 6, AST SpaceMobile, Inc. (AST) announced that it entered into a common stock purchase agreement with B. Riley Principal Capital, LLC (B. Riley), establishing a Committed Equity Facility that gives AST the right to sell and issue, in its sole discretion, up to $75m of its Class A Common Stock over a 24-month period to B. Riley, affording the company flexibility in the raising of additional equity capital. AST is developing a broadband constellation known as BlueBird as part of its plans to deploy the first ever space-based cellular broadband network designed to operate directly with standard, unmodified mobile devices.
Astrocast Agrees to Acquire Hiber
On May 30, Astrocast S.A. (Astrocast), an Internet-of-Things (IoT) nanosatellite network operator based in Switzerland, announced that it entered into an agreement to acquire Hiber B.V. (Hiber), a Netherlands-based IoT-as-a-service start-up, in exchange for newly issued Astrocast shares representing 16.5% of the company’s share capital. As part of the transaction, Hiber’s shareholders agreed to invest €10.45m in Astrocast’s upcoming public offering on the Euronext Growth Paris market.
