AST SpaceMobile has announced its 100 per cent acquisition of EllioSat, in a deal first announced in August. AST said its reason for the purchase was because EllioSat “holds certain S-Band ITU priority rights to MSS (Mobile Satellite Services) frequencies in the range of 1980-2010 MHz and 2170-2200 MHz, for use in low Earth orbit”.

The transaction allows for an initial payment of $26 million through the issuance of 581,395 Class A shares to CCUR (EllioSat’s former owners), under a registration exemption. In addition, it filed a supplemental prospectus with the SEC to register the resale of those shares. With this acquisition, AST reinforces its satellite connectivity expansion strategy.

Extra payments will follow, with $10 million to be paid on the second anniversary of the closing, and another $10 million a year later, and other modest payments contingent on the launch and operation of a satellite containing the spectrum.

Separately, the Ligado bankruptcy plan has been wholly confirmed by its Chapter 11 bankruptcy court. It means that Ligado’s filings for utilise 45MHz L Band can now be transferred to AST for use over North America.

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Categories: Articles, Business, M&A

Tags: AST SpaceMobile, satellite