AST SpaceMobile's stock rises amid final preparations for its first commercial-satellite launch

By James Rogers

The launch of AST SpaceMobile's first five commercial satellites is scheduled for 4:52 a.m. Eastern time Thursday

Shares of AST SpaceMobile Inc. (ASTS) are up 1.1% in premarket trades Wednesday as the space-based broadband company makes final preparations for the launch of its first five commercial satellites early Thursday.

"T-29 hours to the launch of the BlueBird 1-5 mission!" wrote AST SpaceMobile on X, formerly Twitter, late Tuesday. Liftoff is scheduled for 4:52 a.m. Eastern time, the company said.

Related: AST SpaceMobile's stock resumes rally as first commercial satellite launch nears

The satellites, called BlueBirds, will launch atop a SpaceX Falcon 9 rocket from Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida.

AST SpaceMobile's stock, which rallied earlier this week, ended Tuesday's session up 0.7% to snap a three-day losing streak. The company's stock tumbled last week after AST SpaceMobile announced plans for an at-the-market sale of up to $400 million of common stock.

Related: AST SpaceMobile shares slide on plan to sell up to $400 million of stock

The satellites each feature the largest-ever commercial-communications arrays to be deployed in low Earth orbit, according to AST SpaceMobile. "After launch, the BlueBird satellites are planned to offer non-continuous cellular broadband service across the United States and in select markets globally," the company said in a statement.

The initial service, which is based on premium low-band spectrum, is planned to support beta test users for AT&T Inc. (T) and Verizon Communications Inc. (VZ) and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States, AST SpaceMobile said. In July the company said that the U.S. Federal Communications Commission had granted an initial license for space-based operations in the U.S.

Related: AST SpaceMobile stock climbs as Sept. 12 targeted for first commercial satellite launch

In May, AST SpaceMobile shares surged following the announcement of a deal with Verizon.

AST SpaceMobile shares are up 333% in 2024, outpacing the S&P 500 index's SPX gain of 15.2%.

-James Rogers

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09-11-24 0748ET

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