AST SpaceMobile Provides Update on BlueWalker 3 Launch Timing

Rhea-AI Summary

AST SpaceMobile, Inc. (NASDAQ: ASTS) has announced a revised launch window for its BlueWalker 3 satellite, pushing the target to Summer 2022. Originally set for March to April 2022, this delay aims to provide necessary time for assembly and testing. CEO Abel Avellan highlighted the satellite's capacity to connect unmodified mobile phones from low Earth orbit, addressing significant connectivity gaps for five billion mobile subscribers. The delay comes following evaluation discussions during their Q3 2021 Business Update and is contingent on coordination with the launch services provider.

Positive

• Updated launch window for BlueWalker 3 may enhance preparation and increase chances of successful deployment.
• Significant progress reported on BlueWalker 3 satellite development by a team of over 500 members.

Negative

• Delay in launch could raise concerns regarding project timelines and execution.
• Rebooking of the launch indicates prior scheduling and planning uncertainties.

MIDLAND, Texas--(BUSINESS WIRE)--

AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today provided updated timing for the launch of its next satellite, BlueWalker 3.

As discussed on the recent Third Quarter 2021 Business Update call and disclosed in its third quarter Form 10-Q, AST SpaceMobile had been evaluating whether to rebook the launch of BlueWalker 3, to target a new launch within months of the prior launch window of March 1, 2022 to April 30, 2022.

On November 30^th, in accordance with the terms of the Launch Services Agreement, AST SpaceMobile submitted a rebooking notice for a revised launch window targeting Summer 2022. The ultimate launch timing is subject to mutual agreement and coordination with the launch services provider. The purpose for the rebooking of the BlueWalker 3 launch is to provide additional time for assembly, testing and final launch preparation.

AST SpaceMobile Founder, Chairman and CEO Abel Avellan, said: “Our technology development is on track and we have made significant progress on our BlueWalker 3 satellite, with a truly global effort from over 500 team members. BW3 is a 693-square-foot phased array designed to communicate directly with unmodified mobile phones from low Earth orbit, solving a huge gap in today’s communications networks. We believe the updated launch window provides important and needed additional prep time to ensure a successful satellite launch.”

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on Facebook, Twitter and LinkedIn.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing and level of deployment of satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile service that would supersede memoranda of understanding; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the SEC, including those in the Risk Factors section of AST SpaceMobile’s Form S-1 Registration Statement filed with the SEC on June 25, 2021 (File No. 333-257425) as well as the Risk Factors contained in Part II, Item 1A of AST SpaceMobile’s Form 10-Q dated August 16, 2021.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors incorporated by reference into AST SpaceMobile’s Form S-1 Registration Statement filed with the SEC on June 25, 2021 (File No. 333-257425) as well as the Risk Factors contained in Part II, Item 1A of AST SpaceMobile’s Form 10-Q dated August 16, 2021. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005433/en/

Investor Contact:

Scott Wisniewski

investors@ast-science.com



Media Contact:

Brandyn Bissinger

press@ast-science.com

+1 866 845 6521

Source: AST SpaceMobile, Inc.

FAQ

What is the new launch window for AST SpaceMobile's BlueWalker 3 satellite?

The new launch window for BlueWalker 3 is targeted for Summer 2022.

Why was the launch of BlueWalker 3 delayed?

The launch was delayed to allow additional time for assembly, testing, and final preparation.

How many team members are involved in the BlueWalker 3 satellite project?

Over 500 team members are involved in the BlueWalker 3 satellite project.

What is the significance of the BlueWalker 3 satellite?

BlueWalker 3 aims to provide cellular connectivity directly to unmodified mobile phones from low Earth orbit, addressing a major gap in mobile communications.

Who is the CEO of AST SpaceMobile?

The CEO of AST SpaceMobile is Abel Avellan.