05:23 PM EDT, 10/21/2025 (MT Newswires) -- AST SpaceMobile ( ASTS ) plans a private offering of $850 million in convertible senior unsecured notes due 2036 to institutional buyers.

Initial purchasers will have a 13-day option to buy up to an additional $150 million of the notes, the company said Tuesday in a statement. Net proceeds will be used for general corporate purposes.

Concurrently with the pricing of the offering, AST SpaceMobile ( ASTS ) expects to repurchase up to $50 million of its 4.25% convertible senior notes due 2032 through privately negotiated transactions with a limited number of holders. The repurchase will be funded using proceeds from a registered direct offering of Class A shares and cash on hand.

The company's shares fell 7.4% in after-hours trading.