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Business Wire
13-06-2025
- Business
- Business Wire
AST SpaceMobile Announces Settlement Term Sheet Facilitating Long-Term Access to up to 45 MHz of Premium Lower Mid-Band Spectrum in North America for Direct-to-Device Satellite Applications
MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. ('AST SpaceMobile') (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced a Settlement Term Sheet among parties including AST SpaceMobile, Ligado Networks LLC ('Ligado'), Viasat, Inc. ('Viasat') and Inmarsat Global Limited ('Inmarsat') paving the way for approval of definitive documentation providing AST SpaceMobile long-term access to up to 45 MHz of premium lower mid-band spectrum in the United States and Canada for direct-to-device satellite applications. The Term Sheet, when approved, provides that as part of Ligado's ongoing restructuring, Inmarsat will support AST SpaceMobile receiving long-term spectrum usage rights for 80+ years to up to 40 MHz of L-Band MSS spectrum in the United States and Canada held by Ligado, plus access to an additional 5 MHz in the 1670-1675 MHz Band in the United States (the 'Transaction'). In addition, Inmarsat agrees to provide its affirmative support of AST SpaceMobile's planned regulatory applications with the Federal Communications Commission (FCC) in the United States and ISED in Canada seeking authority to operate a NGSO system within the L-Band mid-band spectrum in North America. The Term Sheet supplements the definitive documentation previously entered into between AST SpaceMobile and Ligado in March 2025 and remains subject to Court approval, expected before the end of June. When consummated, the Transaction will add additional capabilities to AST SpaceMobile's technology and space-based network, based on the largest-ever communications arrays deployed in low Earth orbit, pairing existing plans for the continental United States on low-band spectrum, which offers superior penetration and coverage characteristics, with access to up to 45 MHz of lower mid-band spectrum, the largest available block of high-quality nationwide spectrum in the United States. Upon approval of the Transaction, closing will be subject to receipt of satisfactory regulatory approvals required for the proposed use of the spectrum, and other closing conditions. At closing, Ligado will receive consideration of approximately $550 million, of which $535 million will be paid to Inmarsat. To support this consideration, AST SpaceMobile has received a $550 million institutional financing commitment, to finance a planned wholly owned special-purpose vehicle ('SPV') in the form of a non-recourse senior-secured delayed-draw term loan facility, subject to customary closing conditions. This non-recourse financing highlights the attractiveness and value of the spectrum beyond the significant synergistic benefits it provides AST SpaceMobile. Pursuant to the Term Sheet and in connection with Inmarsat's affirmative Transaction and regulatory support and the resolution of certain litigation matters between Ligado and Inmarsat, AST SpaceMobile agrees to certain payments ahead of closing, subject to certain conditions. So long the financial sponsors of Ligado provide an acceptable backstop commitment to AST SpaceMobile providing for a full refund of payments in the event regulatory approvals are not obtained and closing does not occur, AST SpaceMobile agrees to pay $420 million to Inmarsat on Ligado's behalf on October 31, 2025, $100 million to Inmarsat on Ligado's behalf on March 31, 2026 and $15 million to Inmarsat on Ligado's behalf upon receiving regulatory approval and closing of the Transaction. AST SpaceMobile plans to obtain institutional financing based on this backstop commitment to facilitate these obligations prior to the non-recourse senior-secured delayed-draw loan facility becoming effective upon regulatory approvals and closing. The term sheet for such backstop commitment has already been negotiated to AST SpaceMobile's satisfaction, providing committed financing from a highly credible group of lenders. AST SpaceMobile plans to supplement the existing financing commitment to cover the revised payment schedule. AST SpaceMobile's obligation to begin making spectrum access usage payments to Ligado will begin on September 30, 2025 per the Term Sheet. AST SpaceMobile currently operates its first five commercial BlueBird satellites into low Earth orbit, each the largest-ever commercial communications arrays deployed into low Earth orbit, reaching approximately 700 square feet in size. These initial satellites will offer non-continuous cellular broadband service across the United States and in select markets globally and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States. The next-generation Block 2 BlueBirds featuring up to 2,400 square-foot communications arrays, are designed to deliver up to 10 times the bandwidth capacity of the BlueBird satellites in orbit, enabling peak data transmission speeds of up to 120 Mbps, supporting voice, full data, and video applications, and other native cellular capabilities. About AST SpaceMobile AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No assurance can be provided that the Transaction will be consummated or that the related financings will be disbursed. The Transaction and the disbursement of the related financings are subject to a number of conditions, including the entry into definitive documentation related to the financings and the satisfaction of the closing conditions to be specified in such definitive documentation. Even if the Transaction is consummated, the benefits of the Transaction will be subject to integration, technology and regulatory risks, as well as the risks to AST SpaceMobile referenced in the preceding paragraph. AST SpaceMobile intends to file publicly with the SEC, on Form 8-K within four business days following approval, a copy of the Settlement Term Sheet. The description of the Settlement Term Sheet contained in this press release is subject to the more complete description that will be available in such Form 8-K and the exhibit thereto. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025, and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Time of India
04-06-2025
- Business
- Time of India
No question of review of satcom spectrum recommendation based COAI's reax: TRAI sources
New Delhi, Telecom Regulatory Authority of India ( TRAI ) on Wednesday categorically ruled out any review of recommendations on satcom spectrum at this stage, based on industry body COAI 's claims. Sources in TRAI told PTI that the regulator has already given its recommendations to the government "after following the due consultation process exhaustively and transparently". All stakeholders were given adequate opportunity to represent their viewpoint during the consultation process, they said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo There is no question of review of the recommendations at this stage based on reactions of the Cellular Operators' Association of India (COAI), TRAI sources said. The comments assume significance as COAI - whose members include Reliance Jio and Airtel - has approached the telecom department to raise concerns over TRAI recommendations on the satcom spectrum, claiming that "incorrect assumptions" have led to unjustifiably low spectrum charges for satellite services relative to terrestrial networks . Live Events In a letter dated May 29, COAI claimed that TRAI's recommendations are based on incorrect assumptions and that their implementation will hit the sustainability of terrestrial services, which form the foundation of India's digital infrastructure. COAI has urged the Department of Telecom (DoT) to form a committee to "undertake a comprehensive review of the recommendations in their entirety, ensuring the process is guided by principles of fairness, transparency, and equity and also give an opportunity to TSPs (telcos) to share their views regarding the same". The industry body argued that the recommendations provide a regulatory advantage to commercial Non-Geostationary Orbit (NGSO) satellites against terrestrial broadband service providers and, if accepted by the DoT in their present form, will undermine competition and create a non-level playing field. COAI said that TRAI's recommendations do not appear to address the most fundamental and contentious issue -- the lack of a level-playing field between terrestrial service providers and satellite operators serving the same market. "The said recommendations are based on incorrect assumptions and implementation of these recommendations will impact the sustainability of terrestrial services that form the foundation of India's digital infrastructure," the association had said. The telecom regulator last month suggested that satellite communication companies like Starlink pay four per cent of their adjusted gross revenue (AGR) as spectrum charges to the government. Operators offering satellite-based broadband internet services in urban areas would have to shell out an additional Rs 500 per subscriber annually. No additional levy would be applicable for services in rural areas. COAI also argued that the recommendation of a spectrum charge at four per cent of AGR is without justification. "It is well known and TRAI would surely be fully aware that with the advent of next-generation NGSO broadband services -- including low Earth orbit (LEO) and medium Earth orbit (MEO) constellations -- satellite services are now capable of directly substituting and competing with terrestrial fixed and mobile broadband networks," COAI said. PTI
Time of India
04-06-2025
- Business
- Time of India
'No question of review of satcom spectrum recommendation based on COAI's reactions'
New Delhi: Telecom Regulatory Authority of India ( TRAI ) on Wednesday categorically ruled out any review of recommendations on satcom spectrum at this stage, based on industry body COAI 's claims. Sources in TRAI told PTI that the regulator has already given its recommendations to the government "after following the due consultation process exhaustively and transparently". All stakeholders were given adequate opportunity to represent their viewpoint during the consultation process, they said. There is no question of review of the recommendations at this stage based on reactions of the Cellular Operators' Association of India (COAI), TRAI sources said. The comments assume significance as COAI - whose members include Reliance Jio and Airtel - has approached the telecom department to raise concerns over TRAI recommendations on the satcom spectrum, claiming that "incorrect assumptions" have led to unjustifiably low spectrum charges for satellite services relative to terrestrial networks . In a letter dated May 29, COAI claimed that TRAI's recommendations are based on incorrect assumptions and that their implementation will hit the sustainability of terrestrial services, which form the foundation of India's digital infrastructure. COAI has urged the Department of Telecom (DoT) to form a committee to "undertake a comprehensive review of the recommendations in their entirety, ensuring the process is guided by principles of fairness, transparency, and equity and also give an opportunity to TSPs (telcos) to share their views regarding the same". The industry body argued that the recommendations provide a regulatory advantage to commercial Non-Geostationary Orbit (NGSO) satellites against terrestrial broadband service providers and, if accepted by the DoT in their present form, will undermine competition and create a non-level playing field. COAI said that TRAI's recommendations do not appear to address the most fundamental and contentious issue -- the lack of a level-playing field between terrestrial service providers and satellite operators serving the same market. "The said recommendations are based on incorrect assumptions and implementation of these recommendations will impact the sustainability of terrestrial services that form the foundation of India's digital infrastructure," the association had said. The telecom regulator last month suggested that satellite communication companies like Starlink pay four per cent of their adjusted gross revenue (AGR) as spectrum charges to the government. Operators offering satellite-based broadband internet services in urban areas would have to shell out an additional Rs 500 per subscriber annually. No additional levy would be applicable for services in rural areas. COAI also argued that the recommendation of a spectrum charge at four per cent of AGR is without justification. "It is well known and TRAI would surely be fully aware that with the advent of next-generation NGSO broadband services -- including low Earth orbit (LEO) and medium Earth orbit (MEO) constellations -- satellite services are now capable of directly substituting and competing with terrestrial fixed and mobile broadband networks," COAI said. PTI
India.com
01-06-2025
- Business
- India.com
Its Mukesh Ambani, Sunil Mittal vs Elon Musk again as Jio and Airtel gets ready to...
(File) Mukesh Ambani-led Reliance Jio and Sunil Mittal-owned Bharti Airtel, two of India's largest telecom service providers, are once again at odds with Starlink– the satcom service owned by world's richest man Elon Musk– following a brief truce between the domestic telecom major and the US-based satcom giant. Jio, Airtel object to TRAI recommendations According to a report by the Times of India (TOI), domestic telecom providers, including Jio and Airtel, have objected to the recommendations made by TRAI regarding spectrum allocation to satcom companies, alleging that these are 'non-transparent and non- justifiable', and tilted in favor of satellite companies over domestic terrestrial operators. In a statement, the Cellular Operators Association of India (COAI), which represents Indian telecom firms, rejected TRAI's assumption that satcom will merely be a fringe player with business presence limited to rural areas and remote, unconnected regions. COAI asserted that in 'reality', satcom service will be in direct competition with terrestrial networks. 'These recommendations thus create a substantial regulatory arbitrage as they fail to appreciate that in reality, satellite communication services are fast emerging as full-fledged competitors in the broadband market and the leading NGSO (non-geostationary satellite orbits) constellations are actively targeting retail and enterprise users in all geographies, including urban and well-connected regions,' said COAI DG Lt. Gen. (Retd) SP Kochhar, as per the TOI report. TRAI recommendations 'non-transparent', says COAI COAI also accused TRAI of not paying attention to any inputs provided by local telecom majors in its recommendations, and these inputs are now under consideration by the Telecom Ministry. It termed the TRAI recommendations as non-transparent, and based on 'non-justifiable assumption' rather than factual data. 'The limited consideration of stakeholder inputs coupled with the absence of comprehensive consultation on key issues — such as ensuring a level-playing field, evaluating network capacity, determining assignment methods, and establishing fair spectrum valuation—along with reliance on flawed assumptions, has culminated in recommendations that are not only inequitable but may also contravene the principles embodied in the Telecommunications Act, 2023,' the COAI stated. Mukesh Ambani, Sunil Mittal vs Elon Musk Earlier, domestic telecom operators led by Mukesh Ambani-owned Jio and Sunil Mittal's Airtel, had objected the government's decision to allocate spectrum on administrative basis to satellite communication (satcom) companies. However, Jio and Airtel later decided to partner with Starlink, weeks after Elon Musk met Prime Minister Narendra Modi during his US visit in February. Domestic firms purchase spectrum or airwaves via auctions, and COAI has raised objected to the 'differential spectrum pricing' suggested for terrestrial services versus satcom operators.', demanding that price per MHz should be equivalent or at least comparable for both, especially when used to reach the same consumers for identical services. Recently, Elon Musk-owned Starlink received a letter of intent (LOI) from the telecom ministry to begin services, and now awaits a formal license to start its India operations.
Time of India
26-05-2025
- Business
- Time of India
India ramps up satellite monitoring, spectrum safeguards to secure national interests ahead of satcom boom
As satellite-based communication services near commercial rollout, the Indian government is stepping up efforts to secure national interests amid expected dominance by global players such as Elon Musk's Starlink, Jeff Bezos-led Amazon Kuiper, and Eutelsat OneWeb. Tired of too many ads? go ad free now Officials aware of the matter told The Economic Times that a slew of strategic measures are being finalized to boost domestic capabilities in the satcom space. These include setting up a satellite monitoring facility with an outlay of over Rs 930 crore, reserving spectrum and orbital resources for Indian non-geostationary satellite orbit (NGSO) operators, and creating a favourable regulatory ecosystem for establishing gateways within India. 'Some of the measures are likely to be announced through the new Telecom Policy, which will create a roadmap for the next five years or by 2030,' said one official. Another official said the Digital Communications Commission (DCC)—the top inter-ministerial panel within the Department of Telecommunications (DoT)—has already cleared the proposal for the satellite monitoring facility. This facility will track both Indian and foreign satellites operating over Indian airspace and monitor satellite-based communication services. 'Apart from monitoring, the facility would be helpful for mitigating interference from adjacent satellites in the Indian sky and there would be better coordination,' the official added. At present, India has limited presence in the low-earth orbit (LEO) satellite communications market, which is gaining traction due to its high-speed, low-latency potential. In contrast, global players are expanding rapidly: Starlink already has nearly 7,000 satellites in orbit, Amazon Kuiper plans to launch more than 3,000, and Eutelsat OneWeb currently operates over 600 satellites. Tired of too many ads? go ad free now While the Bharti Group holds the largest stake in Eutelsat OneWeb, its operational capacity still falls short of Starlink and Kuiper. 'There is no India LEO satellite operator as of now, but the situation may change in future and that is why the government does not want Indian entities to be on the backfoot,' the official noted, adding that spectrum and orbital slots would be reserved for upcoming Indian ventures. The government is also considering enabling frameworks to promote ground stations and gateway infrastructure from India, potentially allowing the country to serve as a regional hub. These gateways—critical for supporting NGSO satellite constellations—are complex and capital-intensive installations comprising multiple antennas. 'The law enforcement agencies can take a call which countries can be allowed to be served from Indian gateways,' the official said. According to IN-SPACe, India's space economy has the potential to reach $44 billion by 2033, up from a current global share of just 2 per cent to a projected 8 per cent. The commercial rollout of satcom services is expected in the coming months, contingent on spectrum allocation by DoT. The Telecom Regulatory Authority of India (TRAI) has already recommended that satcom spectrum be administratively allocated for five years at a fee of 4 per cent of adjusted gross revenue (AGR). 'Already there are many startups in the satcom space, and the government wants India to emerge as a major player in the satellite market. The regulatory framework will be streamlined and simplified to unlock the potential of the satellite market,' said the second official. The preliminary draft of the new telecom policy is expected to include these structural changes, with a focus on building domestic capacity while maintaining sovereign control over satellite infrastructure and data.
