NASDAQ:ASTS - Nasdaq - US00217D1000 - Common Stock - Currency: USD
AST SpaceMobile Inc (NASDAQ:ASTS) shares are tumbling Thursday after the company announced the pricing of a proposed offering of convertible senior notes.
Before the US market kicks off on Thursday, let's examine the pre-market session and unveil the notable performers among the top gainers and losers.
The company expects to raise net proceeds of $387.9 million from the offering and use a bulk of it for working capital and general corporate purposes, including strategic acquisitions.
Wednesday's after hours session: top gainers and losers
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Shares of satellite designer and manufacturer AST SpaceMobile (NASDAQ: ASTS) rocketed 250% higher in 2024, according to data provided by S&P Global Market Intelligence. The space company made significant progress establishing its spaced-based cellular broadband network during the year and inked deals with major telecommunications giants, which sent shares soaring. AST SpaceMobile aims to transform global communication by delivering reliable cellular broadband through its low-Earth orbit satellites.
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