An illustration of the SpaceMobile satellite tv for pc constellation.
Shares of satellite-to-smartphone broadband firm AST SpaceMobile started buying and selling on the Nasdaq on Wednesday, with the corporate the primary amongst a flurry of current area firms to shut its SPAC deal.
AST SpaceMobile trades below the ticker ASTS, with shares beforehand listed below the SPAC New Windfall earlier than the merger.
A SPAC—or particular function acquisition firm—is a shell firm that is designed to lift cash by means of an preliminary public providing for the aim of buying a non-public agency and taking it public.
The inventory closed up 1.8% on Wednesday at $11.81 a share, having climbed as a lot as 7% in noon buying and selling.
AST’s company headquarters and high-volume manufacturing facility in Midland, Texas
AST & Science
AST SpaceMobile, based mostly in Midland, Texas, is constructing a community of satellites, also referred to as a constellation, that’s designed to ship broadband from area on to shopper…