Summary by Moomoo AI
AST SpaceMobile announced the completion of its redemption of all outstanding public warrants on October 2, 2024. The company redeemed 236,294 unexercised warrants at $0.01 per warrant, totaling $2,362.94. Prior to the redemption, 13,360,574 warrants (98.26%) were exercised at $11.50 per share, generating approximately $153.6 million in proceeds.Following the redemption, AST SpaceMobile has no public warrants outstanding. The warrants ceased trading on Nasdaq and were delisted on September 27, 2024. The company's Class A Common Stock continues to trade on Nasdaq under the symbol "ASTS".AST SpaceMobile is developing the first space-based cellular broadband network to operate directly with standard mobile devices. The company aims to address connectivity gaps for billions of mobile subscribers worldwide, targeting both commercial and government applications.