楽天株式会社

Ast & Science Llc To Become Public Company Through Combination With New Providence Acquisition Corp

Dec 16 (Reuters) - New Providence Acquisition Corp <NPA.O>::AST & SCIENCE LLC TO BECOME PUBLIC COMPANY THROUGH COMBINATION WITH NEW PROVIDENCE ACQUISITION CORP. (NASDAQ: NPA, NPAUU AND NPAWW).AST SPACEMOBILE - COMBINED COMPANY TO HAVE AN ESTIMATED POST-TRANSACTION ENTERPRISE VALUE OF $1.4 BILLION.AST SPACEMOBILE - COMBINED COMPANY WILL BECOME LISTED ON NASDAQ UNDER TICKER SYMBOL "ASTS" FOLLOWING EXPECTED TRANSACTION CLOSE IN Q1 OF 2021.AST SPACEMOBILE - TRANSACTION TO PROVIDE UP TO $462 MILLION IN GROSS PROCEEDS.AST SPACEMOBILE -GROSS PROCEEDS COMPRISES OF NEW PROVIDENCE ACQUISITION'S $232 MILLION OF CASH HELD IN TRUST, $230 MILLION FULLY COMMITTED COMMON STOCK PIPE AT $10.00/SHARE.AST SPACEMOBILE - ABEL AVELLAN, CHAIRMAN AND CEO OF AST SPACEMOBILE, WILL CONTINUE TO LEAD BUSINESS POST-TRANSACTION.AST SPACEMOBILE - COMBINED COMPANY EXPECTED TO HAVE AN EQUITY VALUE OF ABOUT $1.8 BILLION AT CLOSING.AST SPACEMOBILE - PIPE IS BEING LED BY VODAFONE, RAKUTEN AND AMERICAN TOWER AS WELL AS UBS O'CONNOR AND A BROAD BASE OF FINANCIAL INSTITUTIONS.AST SPACEMOBILE - COMPANY WILL HAVE NO DEBT ON BALANCE SHEET AT DEAL CLOSING.AST SPACEMOBILE -ASSUMING NO REDEMPTIONS BY NEW PROVIDENCE'S STOCKHOLDERS, AST'S EXISTING SHAREHOLDERS TO HOLD ABOUT 71% OF COMMON STOCK AFTER DEAL CLOSE.