AST SpaceMobile, Inc. (ASTS) completes a $1 billion private offering of convertible senior notes due 2036, generating approximately $983.7 million to strengthen its balance sheet and fund expansion initiatives. B. Riley analyst lowers price target on ASTS to $95 due to share decline, but company strengthens balance sheet to $2.78 billion. Founded in 2017, AST SpaceMobile is a publicly traded satellite designer and manufacturer building the first space-based cellular broadband network.

Read more at Yahoo Finance: AST SpaceMobile (ASTS) Completes $1 Billion Convertible Notes Offering Private