AST SpaceMobile Inc ( ASTS ) shares are trading lower Tuesday after the company filed for an $800 million offering.

What Happened: AST SpaceMobile ( ASTS ) entered into an Equity Distribution Agreement to sell up to $800 million of the company’s common stock in an at-the-market offering program with up to a three-year term.

Under the agreement, AST SpaceMobile ( ASTS ) may sell shares from time to time through sales agents. The agents will be entitled to a commission rate of up to 3% of the gross sales price per share sold.

AST SpaceMobile ( ASTS ) had over $1.5 billion in cash, cash equivalents and restricted cash as of June 30.

How To Buy ASTS Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in AST SpaceMobile's ( ASTS ) case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

ASTS Price Action: AST SpaceMobile ( ASTS ) shares were down 6.28% at $68.32 at the time of publication on Tuesday, according to Benzinga Pro.

AST SpaceMobile ( ASTS ) stock is hovering near its 52-week high of $74.77. Despite the dip on Tuesday, it's still trading 39.7% above its 50-day moving average. The stock has an RSI of 79.5, suggesting it’s pretty overbought right now.

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