AST SpaceMobile Set to Join the U.S. Large-Cap Russell 1000® Index Share

Estimated reading time: 1 minute

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, announced it is set to join the U.S. large-cap Russell 1000® Index, effective after the U.S. market closes on June 27, as part of the 2025 Russell indexes reconstitution.

Inclusion in the Russell 1000® Index, which tracks the largest 1,000 U.S. companies by market capitalization, reflects AST SpaceMobile’s advancing position as a leader in delivering space-based cellular broadband worldwide.

“Joining the Russell 1000® Index marks another important milestone as we work to deliver on our mission of eliminating coverage gaps and bringing cellular broadband connectivity directly to the mobile devices of the billions of people who remain unconnected,” said Andrew Johnson, Chief Financial Officer of AST SpaceMobile. “This inclusion will expand our visibility among investors as we continue to advance our technology, scale operations, and execute against our global growth plans.”

Membership in the Russell 1000® Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.