MIDLAND, Texas, July 5, 2022 (AST SpaceMobile PR) — AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, announced it has entered into a definitive agreement to sell its majority ownership stake in NanoAvionics, a leading smallsat mission integrator and bus manufacturer based in Lithuania.
The transaction values NanoAvionics at an enterprise valuation of approximately $68 million and is expected to close in the third quarter of 2022, subject to customary closing conditions including any required regulatory reviews, and generate approximately $28 million in net proceeds to AST SpaceMobile at closing. AST SpaceMobile will sell its majority stake NanoAvionics to Kongsberg Defence & Aerospace, the Nordic region’s largest industrial space company and global leader in maritime surveillance.(more…)
- Parabolic Arc
- July 5, 2022