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AST SpaceMobile Secures 45 MHz of Lower Mid-Band Spectrum in the U.S.
January 9, 2025 | BUSINESS WIREEstimated reading time: 3 minutes
AST SpaceMobile, Inc., the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced an agreement for long-term access to up to 45 MHz of lower mid-band spectrum in the United States for direct-to-device satellite applications.
This agreement, when consummated, will add additional capabilities to AST SpaceMobile’s technology and space-based network, based on the largest-ever communications arrays deployed in low Earth orbit, pairing existing plans for the continental United States on low-band spectrum, which offers superior penetration and coverage characteristics, with access to up to 45 MHz of lower mid-band spectrum, the largest available block of high-quality nationwide spectrum in the United States.
“Adding premium lower mid-band spectrum access in the United States to the AST SpaceMobile network gives us long-term access to a large block of a scarce resource, significantly enhancing our planned space-based cellular broadband offering,” said Abel Avellan, Chairman and CEO at AST SpaceMobile. “Alongside the previously announced 850 MHz nationwide network plans, access to the largest available block of high-quality nationwide spectrum will position us to deliver on our goal of peak data transmission speeds up to 120 Mbps, together with our mobile network operator partners, to enable a true broadband experience directly from space to everyday smartphones.”
The binding Restructuring Support Agreement among Ligado Networks (“Ligado”), holders of approximately 88% of the funded indebtedness of Ligado, and AST SpaceMobile provides that, as part of Ligado’s ongoing restructuring, AST SpaceMobile will receive long-term spectrum usage rights for 80+ years to up to 40 MHz of L-Band MSS spectrum in the United States and Canada held by Ligado, plus access to an additional 5 MHz in the 1670-1675 MHz Band in the United States (the “Transaction”). The Transaction is subject to the entry into definitive documentation, which is expected to occur during the first half of 2025.
Upon execution of definitive documentation, Ligado will receive approximately 4.7 million penny warrants convertible into AST SpaceMobile Class A shares, subject to a 12-month lock-up. Upon closing of the Transaction, which will be subject to receipt of satisfactory regulatory approvals required for the proposed use of the spectrum, and other closing conditions, Ligado will receive additional consideration of approximately $550 million. To support this consideration, AST SpaceMobile has received a $550 million institutional financing commitment, to finance a planned wholly owned special-purpose vehicle (“SPV”) in the form of a non-recourse senior-secured delayed-draw term loan facility, subject to satisfactory diligence and customary closing conditions. Upon closing of the Transaction, AST SpaceMobile would further pay approximately $80 million annually for spectrum usage rights and provide Ligado with long-term net revenue sharing rights. The closing of the Transaction will be subject to satisfactory conclusion of Ligado’s restructuring.
UBS Securities LLC is acting as exclusive financial advisor to AST SpaceMobile and Freshfields and Sullivan & Cromwell are acting as legal counsel to AST SpaceMobile.
In September 2024, AST SpaceMobile launched its first five commercial BlueBird satellites into low Earth orbit, each the largest-ever commercial communications arrays deployed into low Earth orbit, reaching approximately 700 square feet in size. These initial satellites will offer non-continuous cellular broadband service across the United States and in select markets globally and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States. The next-generation Block 2 BlueBirds featuring up to 2,400 square-foot communications arrays, are designed to deliver up to 10 times the bandwidth capacity of the BlueBird satellites in orbit, enabling peak data transmission speeds of up to 120 Mbps, supporting voice, full data, and video applications, and other native cellular capabilities.
During 2024, AST SpaceMobile secured additional strategic investment from AT&T, Verizon, Google and Vodafone, and several contract awards with the United States Government, directly and through prime contractors. The company has agreements with more than 45 mobile network operators globally, which have over approximately 2.8 billion existing subscribers total, including Vodafone Group, AT&T, Verizon, Rakuten Mobile, Bell Canada, Orange, Telefonica, TIM, Saudi Telecom Company, Zain KSA, Etisalat, Indosat Ooredoo Hutchison, Telkomsel, Smart Communications, Globe Telecom, Millicom, Smartfren, Telecom Argentina, MTN, Telstra, Africell, Liberty Latin America and others. AT&T, Verizon, Vodafone, Google, Rakuten, American Tower, Cisneros Group and Bell Canada are also existing investors in AST SpaceMobile
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