Verizon Commits $100 Million to AST SpaceMobile
CONFIRMED89% CONFIDENCEAST SpaceMobile's 8-K dated May 29, 2024 reports that "On May 23, 2024, the Company and Verizon ... entered into a Convertible Note and Memorandum of Understanding for an investment and commercial prepayment commitment totaling $100.0 million"; the pin is the day it was disclosed.[1]
Verizon agreed to put $100 million into satellite-to-phone startup AST SpaceMobile: a $35 million convertible note plus $65 million of prepaid service payments, the second tied to regulatory approval and a definitive commercial agreement.
$100M
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