NEW YORK, July 26, 2026, 11:08 EDT — U.S. markets closed
- AST SpaceMobile ended Friday at $56.20, falling 5.0% on the day and 2.8% over the week.
- The sale of its convertible notes raised pro forma cash and restricted cash to over $3.8 billion.
- There are currently nine BlueBirds in orbit, with a goal of reaching around 45 by early 2027.
AST SpaceMobile’s funding surge lost momentum by Friday. The stock finished at $56.20, falling 5.0% for the day.
The week brought a clearer signal. Funding risk eased, while the main challenge shifted to launch execution.
The stock rose 10.3% on Tuesday following the completion of the note sale. Over the subsequent three sessions, it dropped 11.3%. The overall weekly loss was 2.8%.
The shift is significant as the balance sheet appears particularly liquid now. The timeline for deployment is still challenging.
| Company | Friday close | Friday move | Weekly move |
|---|---|---|---|
| AST SpaceMobile NASDAQ:ASTS | $56.20 | down 5.0% | down 2.8% |
| Globalstar NASDAQ:GSAT | $78.93 | off 0.3% | off 0.3% |
| Iridium Communications NASDAQ:IRDM | $45.78 | fell 3.9% | slipped 1.9% |
| Rocket Lab NASDAQ:RKLB | $63.91 | dropped 8.7% | lost 5.5% |
Weekly changes are based on closing prices from July 17 to July 24.
ASTS underperformed Globalstar and Iridium over the week, but outperformed Rocket Lab. The Nasdaq Composite declined 2.0% as worries over technology investment resurfaced.
AST finalized $1.15 billion in 1.625% convertible notes maturing in 2034. As of June 30, pro forma cash, restricted cash, and equivalents were over $3.8 billion.
The coupon suggests annual interest payments of around $18.7 million, representing under 0.5% of the reported pro forma cash balance.
The original conversion price was approximately $79.57, representing a 41.6% premium over Friday’s closing price. Capped calls increased the effective conversion level to $149.20, which is 166% higher than Friday’s close.
President Scott Wisniewski stated the funding would “secure additional access to orbit.” Chief Financial Officer Andy Johnson described the rate as “our lowest coupon ever.” AST projected effective dilution at under 2%. Nasdaq
Getting launches right is still a challenge. AST’s nine BlueBird satellites were in orbit following the June mission. The company now aims to reach around 45 satellites by early 2027.
This means 36 satellites are yet to be launched. The planned deployments amount to four times the current number of BlueBird satellites. The earlier goal was about 45 satellites in place by the end of 2026.
BlueBirds 11, 12 and 13 are planned for launch in early August. Completing this mission would bring the total number of BlueBird satellites in orbit to 12. An additional 33 satellites are required to achieve the target of 45.
AST reports that a fleet of 45 to 60 BlueBird satellites is required to maintain uninterrupted service in its primary markets. Production continued on satellites up to BlueBird 37 after the launch in June.
Clear Street attributed Thursday’s weaker performance to disruptions involving a third-party launch vehicle. The company reported no decline in direct-to-device demand and stated it had not lost any customer contracts.
Few corporate events are on the agenda for the week ahead. AST’s investor calendar indicates future events are “coming soon.” Market participants will be monitoring for confirmation of a firm August launch date. AST SpaceMobile
Delays from providers or failed launches continue to pose the main risk. Timing for regulatory clearance, ground system buildout and monetization by partners could also be pushed back. Should the stock rebound, convertible debt might trigger either cash payments or share issuance.
The capital issue has subsided. Meanwhile, the countdown to launch continues unabated.
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