UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events.
As previously disclosed, on January 23, 2024, AST SpaceMobile, Inc. (the “Company”), closed its previously announced offering of 32,258,064 shares of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-268087), which was filed with the Securities and Exchange Commission on October 31, 2022. Pursuant to the Underwriting Agreement, dated January 18, 2024 (the “Underwriting Agreement”), by and among the Company, AST & Science, LLC and UBS Securities LLC and Barclays Capital Inc., as representatives for the several underwriters named therein (the “Underwriters”), the Underwriters were granted a 30-day option (the “Option”) to purchase up to an additional 4,838,709 shares of Class A Common Stock (the “Option Shares”) from the Company on the same terms and conditions.
On January 25, 2024, the Underwriters notified the Company that they had elected to exercise the Option in full. The offering of the Option Shares closed on January 29, 2024, raising net proceeds before offering expenses of $14.1 million.
The opinion of Sullivan & Cromwell LLP, counsel to the Company, is filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated by reference to the Prospectus Supplement, dated January 18, 2024 and filed with the Securities and Exchange Commission on January 19, 2024.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 5.1 | Opinion of Sullivan & Cromwell LLP. | |
| 23.1 | Consent of Sullivan & Cromwell LLP (included in Exhibit 5.1). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 29, 2024
| AST SPACEMOBILE, INC. | ||
| By: | /s/ Sean R. Wallace | |
| Name: | Sean R. Wallace | |
| Title: | Chief Financial Officer | |
Exhibit 5.1
[Letterhead of Sullivan & Cromwell LLP]
January 29, 2024
AST SpaceMobile, Inc.,
Midland Intl. Air & Space Port,
2901 Enterprise Lane, Midland, Texas, 79706
Ladies and Gentlemen:
In connection with the registration under the Securities Act of 1933 (the “Act”) of 4,838,709 shares of Class A common stock, par value $0.0001 per share (the “Securities”) of AST SpaceMobile, Inc., a Delaware corporation (the “Company”), we, as your counsel, have examined such corporate records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for the purposes of this opinion. Upon the basis of such examination, it is our opinion that the Securities have been duly authorized and validly issued, and are fully paid and nonassessable.
In rendering the foregoing opinion, we are not passing upon, and assume no responsibility for, any disclosure in any registration statement or any related prospectus or other offering material relating to the offer and sale of the Securities.
The foregoing opinion is limited to the Federal laws of the United States and General Corporation Law of the State of Delaware, and we are expressing no opinion as to the effect of the laws of any other jurisdiction.
We have relied as to certain factual matters on information obtained from public officials, officers of the Company and other sources believed by us to be responsible.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the references to us under the heading “Legal Matters” in the Prospectus Supplement relating to the Securities, dated January 18, 2024. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act.
| Very truly yours, | |
| /s/ SULLIVAN & CROMWELL LLP |
| AST SpaceMobile, Inc. | -1- |
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