Ast Spacemobile shares fall 6.63% in premarket amid convertible bond issuance, equity dilution, Barclays downgrade, and technical sell-off after 272.56% YTD gain.

Ast Spacemobile, Inc. dropped 6.63% in premarket trading, as the company announced a proposed private placement of $850 million in 2036 convertible preferred notes, a $50 million repurchase of convertible notes, and a financing raise through the issuance of approximately 2 million shares of common stock, triggering equity dilution. Additionally, Barclays downgraded the stock to "underweight" on October 17, 2025, due to valuation concerns. The stock has surged 184.41% over the past 52 weeks and 272.56% year-to-date, leading to a technical sell-off.