AST SpaceMobile, Inc. (ASTS) saw a 9.53% drop in its stock price on Friday to $54.33 per share after announcing plans to raise $500 million through convertible senior notes. The notes will have a 2.375% yield and mature on October 15, 2032, unless converted, redeemed, or repurchased earlier. If converted, the notes will be exchanged for Class A common shares at $72.07 each, a 20% premium to the last reported sale price on July 24, 2025. Initial buyers have the option to purchase up to $75 million of notes within 13 days. The proceeds will be used for general corporate purposes and capped call transactions.

Read more at Yahoo Finance: AST SpaceMobile (ASTS) Drops on $500-Million New Fundraising Program