AST SpaceMobile Inc (NASDAQ:ASTS) shares are trading higher Wednesday. The company provided an interim update on fundraising progress.
What Happened: In a regulatory filing late Tuesday, AST SpaceMobile said multiple parties are now seeking to close and fund the previously disclosed strategic investment this month.
The company also said it secured initial ground infrastructure orders from two customers for planned commercial service. There can be no assurance that AST SpaceMobile will enter into any transactions.
AST SpaceMobile is focused on building a space-based cellular broadband network that can be accessed directly by everyday smartphones.
Check This Out: Elon Musk Praises SpaceX’s ‘Great Solution’ For Zero Mobile Connectivity After Starlink Launches First ‘Direct-To-Cell’ Satellites
ASTS Price Action: AST SpaceMobile shares were up 3.51% at $5.02 at the time of publication, according to Benzinga Pro.
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