Intel stock spikes after report of possible US government stake
AST SpaceMobile, Inc. (NASDAQ:ASTS), a company specializing in communication services with a market capitalization of $11.55 billion, announced changes to its corporate governance following the Annual Meeting held on June 6, 2025. The company’s stock has shown remarkable performance, delivering a 304% return over the past year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value. Stockholders approved an amendment to the company’s Second Amended and Restated Certificate of Incorporation, allowing for the removal of directors by written consent. This amendment was effective immediately upon filing with the Secretary of State of Delaware.
During the Annual Meeting, shareholders also voted on several key issues. All the nominated directors were elected to serve until the 2026 Annual Meeting of Stockholders. KPMG LLP was ratified as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, the compensation paid to AST SpaceMobile’s named executive officers was approved, and it was decided that future advisory votes on executive compensation will occur every year. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 10.62, though analysts don’t expect profitability this year. Discover 12 more exclusive InvestingPro Tips and comprehensive financial analysis in our Pro Research Report.
The company, headquartered at Midland International Air & Space Port in Texas, confirmed that the voting results are in line with the recommendations of the Board of Directors. The turnout for the voting represented 85.6% of the total voting power, establishing a quorum.
AST SpaceMobile’s Class A, B, and C common stockholders were entitled to vote, with each class A and B share granting one vote and each class C share granting ten votes. The results of the votes were certified by the Inspector of Election for the Annual Meeting.
The information disclosed in this article is based on a press release statement from AST SpaceMobile, Inc. and does not contain any speculative content or subjective assessments.
In other recent news, AST Spacemobile reported its Q1 2025 earnings, revealing mixed results. The company achieved an earnings per share of -$0.20, which was better than the forecasted -$0.26, but its revenue fell short at $7.18 million compared to the expected $10.94 million. Despite the revenue miss, AST Spacemobile ended the quarter with $874.5 million in cash, a significant increase from the previous quarter. Meanwhile, the company announced a partnership with Blue Origin for launching up to 45 BB2 satellites, with options for an additional 15, using Blue Origin’s New Glenn rocket. This partnership positions AST Spacemobile as a key customer for Blue Origin. Analysts from Scotiabank (TSX:BNS) maintained an outperform rating for AST Spacemobile, highlighting potential collaborations with Amazon (NASDAQ:AMZN)’s Project Kuiper. Cantor Fitzgerald also maintained an Overweight rating with a $30 price target, noting the company’s progress in satellite deployments and new bookings in the Defense sector. However, they cautioned that increased costs associated with satellite materials could offset some of the optimism from recent developments.
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