AST SpaceMobile sets May 15 for 2025 Annual Meeting

AST SpaceMobile, Inc. (NASDAQ:ASTS), a $3.65 billion market cap company specializing in communication services, has announced the date for its upcoming 2025 Annual Meeting of Stockholders.

According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.8. The meeting is scheduled for May 15, 2025, a deviation of more than 30 days from the previous year’s annual meeting.

The change in meeting date necessitates an adjustment in the deadlines for shareholder proposals and director nominations. Shareholders now have until the close of business on February 14, 2025, to submit their proposals or nominations for the board of directors.

This new deadline aligns with the company’s bylaws, which stipulate that proposals must be received more than 90 days before the meeting if the date is significantly earlier than the anniversary of the previous year’s meeting.

Additionally, those shareholders aiming to solicit proxies in support of their own director nominees must adhere to the Securities and Exchange Commission’s universal proxy rules, which include providing detailed notice as outlined in Rule 14a-19 under the Exchange Act.

For proposals intended to be included in the proxy materials, the same February 14, 2025, deadline applies. This timing ensures that the company can incorporate the proposals into its proxy materials in a manner that complies with Rule 14a-8 under the Exchange Act.

The company, which operates out of the Midland International Air & Space Port in Texas, will be providing further details about the 2025 Annual Meeting, including specific time, location, record date, and items for voting, in its proxy statement for the meeting.

In other recent news, AST SpaceMobile, a provider of space-based cellular broadband services, has seen a flurry of developments. The Federal Communications Commission ( FCC (BME:FCC)) granted the company Special Temporary Authority (STA) to test its service in the United States, a significant step that allows AST SpaceMobile to commence testing its BlueBird satellites’ capability to provide cellular broadband service directly to unmodified smartphones.

In 2024, the company secured strategic investments from industry players like AT&T, Verizon (NYSE:VZ), Google (NASDAQ:GOOGL), and Vodafone (NASDAQ:VOD), and won contract awards from the U.S. Government. However, its shares fell 12% following a proposed private offering of $400.0 million in convertible senior notes due 2032 intended for working capital and other general corporate purposes.

Scotiabank (TSX:BNS) analyst Andres Coello adjusted the price target on AST SpaceMobile to $40.20 from the previous $44.70, maintaining a Sector Outperform rating on the stock. The firm highlighted the complexities faced by the company, such as the impact of higher interest payments and the influence of the company’s substantial cash position on their rollout schedule.

AST SpaceMobile also entered into a significant agreement with Ligado Networks LLC, securing long-term access to valuable mid-band spectrum in the United States. The agreement, subject to Bankruptcy Court approval and Ligado’s successful restructuring, will enhance AST SpaceMobile’s pioneering space-based network.

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