08:09 AM EDT, 08/05/2024 (MT Newswires) -- AST SpaceMobile ( ASTS ) said Monday that the Federal Communications Commission has granted an initial license for space-based cellular broadband operations in the US.

AST said it can now roll out and operate V, S, and UHF frequencies to support gateway, feeder link and telemetry, tracking, and control operations for the first five commercial BlueBird satellites.

The company said it has completed the production, assembly, and environmental testing of the first five BlueBird satellites, and is preparing to ship these to Cape Canaveral for a seven-day September launch window.

The company's shares were 2.2% down in recent premarket activity.

Price: 18.10, Change: -0.41, Percent Change: -2.22