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New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU, NPAWW) announced stockholder approval of its business combination with AST & Science, LLC. This transaction is expected to close around April 6, 2021, leading to the formation of AST SpaceMobile, which will trade as ASTS and ASTSW on Nasdaq. The deal will provide approximately $462 million in gross proceeds, including $230 million from concurrent private placement. AST SpaceMobile aims to create a space-based cellular broadband network to connect unserved mobile subscribers worldwide.
New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU, NPAWW) is urging stockholders to vote in favor of the proposed Business Combination with AST SpaceMobile, scheduled for the virtual meeting on April 1, 2021. Stockholders as of the March 1, 2021 record date are encouraged to participate in the voting process. The board recommends voting 'FOR' the Business Combination and related proposals. Voting can be executed online or by telephone using the instructions sent to stockholders. For more details, refer to the definitive proxy statement available on the SEC's website.
New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU, NPAWW) has scheduled a special meeting of stockholders on April 1, 2021, to approve its business combination with AST & Science, LLC (AST SpaceMobile). Notice and proxy statements will be sent around March 15, 2021, to stockholders of record by March 1, 2021. The deadline for completing the Business Combination has been extended from March 15 to June 15, 2021. Upon completion, AST SpaceMobile’s common stock will trade under the ticker symbol 'ASTS' on NASDAQ.
AST & Science, based in Midland, Texas, has announced reaching a milestone of 1,000 patent claims for its space-based cellular broadband network. This extensive patent portfolio covers key technologies essential for operations, including satellite architecture and communication protocols. CEO Abel Avellan emphasized the company's commitment to bridging connectivity gaps for the 5 billion mobile subscribers worldwide. AST SpaceMobile plans to go public through a merger with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU) in 2021.
New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU, NPAWW) is urging shareholders to vote in favor of the Charter Extension Proposal to delay the AST Business Combination deadline from March 15 to June 15, 2021. A minimum of 65% approval from shareholders is required. Stockholders who held shares on January 28, 2021, should have received proxy materials and are encouraged to vote promptly. The company emphasizes the importance of every vote and provides contact information for voting assistance. The definitive proxy statement is available at the SEC's website.
AST & Science announced its impending merger with New Providence Acquisition Corp, forming AST SpaceMobile, which will trade on NASDAQ as ASTS. This merger aims to bolster the launch of a space-based cellular broadband network accessible via standard mobile phones. The initial phase will involve 20 satellites, targeting equatorial regions to connect approximately 1.6 billion individuals, partnering with mobile operators like Vodafone to address connectivity gaps for mobile subscribers worldwide.
AST SpaceMobile has announced a business combination with New Providence Acquisition Corp (NASDAQ: NPA, NPAUU). This deal will take AST SpaceMobile public, with an implied pro forma enterprise value of approximately $1.4 billion and an equity value of $1.8 billion. The combination includes a $230 million private placement investment from strategic partners like Vodafone and Rakuten. The company aims to address the $1 trillion global mobile wireless market, targeting 1.3 billion existing subscribers and expanding accessibility for over half the world's population.
AST SpaceMobile, in collaboration with Vodafone Group, has announced plans to launch a space-based mobile communications service in 2023, aimed at providing connectivity to rural areas in Africa, and later, Europe. The initial phase will utilize 20 satellites to cover approximately 1.6 billion people across equatorial regions, targeting markets like DRC, Ghana, and Kenya. The company has secured $462 million in funding and signed a business combination agreement with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU), paving the way for its public listing under the symbol ASTS.
