New Providence Acquistion filed the transcript of a Q&A with Abel Avellan, CEO of AST SpaceMobile, which has a merger agreement with the SPAC.
AST is building the first space-based cellular broadband network accessible directly by standard mobile phones.
The combined company would have an implied pro forma enterprise value of approximately $1.4 billion and is expected to have an equity value of approximately $1.8 billion at closing. The deal was announced in December.
AST SpaceMobile expects to receive up to $462 million in gross proceeds, assuming no redemptions of New Providence’s existing stockholders, including the private placement backed by strategic partners, existing investors and a broad base of financial institutions. All AST SpaceMobile shareholders would retain 100% of their equity in the combined company. Read more.
