Verizon Invests $100M in AST SpaceMobile for Satellite Phone Service
TL;DR Summary
Verizon is investing $100 million in AST SpaceMobile to enhance direct-to-smartphone satellite connectivity, aiming to cover remote areas in the U.S. This investment includes $65 million in commercial prepayments and $35 million in convertible debt. The partnership marks a significant milestone for AST SpaceMobile, which has agreements with over 45 mobile network operators globally. The venture plans to launch its Block 1 satellites by the end of August and aims for continuous U.S. coverage with 45-60 satellites by 2026.
- Verizon plots $100 million direct-to-smartphone satellite investment SpaceNews
- Why AST SpaceMobile Stock Exploded 35% Higher Today Yahoo Finance
- Verizon and AST SpaceMobile have a $100 million deal for satellite cellular service The Verge
- Verizon Partners With AST SpaceMobile to Use Satellites to Boost Coverage and Fix Dead Zones CNET
- AST SpaceMobile stock surges 50% after Verizon partnership for satellite internet to phones CNBC
Reading Insights
Total Reads
0
Unique Readers
6
Time Saved
3 min
vs 4 min read
Condensed
88%
678 → 79 words
Want the full story? Read the original article
Read on SpaceNews