09:12 AM EST, 02/12/2026 (MT Newswires) -- AST SpaceMobile ( ASTS ) said Thursday it priced $1.0 billion of 2.250% convertible senior notes due 2036 in a private offering to qualified institutional buyers, with settlement expected Feb. 17, 2026.

The notes carry an initial conversion price of about $116.30 per share, a 20% premium to the Feb. 11 close, and include an option for purchasers to buy up to an additional $150 million. AST SpaceMobile ( ASTS ) expects net proceeds of about $983.7 million, or $1.13 billion if the option is exercised.

The company said it will use the proceeds for general corporate purposes, including spectrum deployment, government space investments, debt reduction and advancing its SpaceMobile service.