AST SpaceMobile, Inc. — Form 8-K

AST SpaceMobile, Inc. issued 1.625% Convertible Senior Notes due February 1, 2034, with an initial principal amount of up to $1,000,000,000 (plus an option to increase by additional amounts via initial purchasers' overallotment). The notes are convertible into Class A common stock at an initial conversion rate of 12.5672 shares per $1,000 principal amount, with conversion rights triggered by stock price conditions, corporate events, and calendar quarters. Settlement of conversions can be physical (shares), cash, or combination thereof at the company's election. The notes are senior unsecured obligations with a maturity date of February 1, 2034, and include make-whole provisions upon fundamental changes and repurchase rights for holders.