AST SpaceMobile shares fall 7.63% premarket after announcing a convertible notes offering and a registered direct offering.

Ast Spacemobile, Inc. declined 7.63% in premarket trading. The company announced a convertible notes offering and a cash repurchase of a portion of its 4.25% convertible senior notes due 2032. Additionally, AST SpaceMobile, Inc. plans to offer shares of its Class A common stock to holders of Existing Notes participating in the Repurchase in a direct placement registered under the Securities Act of 1933.