Article content
Satellite network company AST & Science said on Wednesday it had agreed to be taken public by blank-check firm New Providence Acquisition Corp in a deal that values the combined firm at $1.4 billion including debt.
The Midland, Texas-based company, also known as AST SpaceMobile, said it plans to launch the world’s first low-earth-orbit, low-latency satellite network to connect directly to a smartphone.
We apologize, but this video has failed to load.
Try refreshing your browser, or Satellite firm AST to go public via $1.4 bln SPAC merger Back to video
The network will help to fortify a partner mobile operator’s coverage in areas where signals are weak or undergo disruption, with users automatically switching from the land network to the space network.
Satellite firm AST to go public via $1 4 billion SPAC merger
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Satellite firm AST to go public via US$1 4 bil SPAC merger
theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.