AST SpaceMobile, Inc. (NASDAQ: ASTS) is developing the world’s first and only space-based cellular broadband network, which is capable of connecting directly with standard and currently-available mobile devices. The company’s goal is to eliminate “dead zones,” or connectivity gaps to the billions of people that rely on cellular communication. AST SpaceMobile says their planned broadband network will allow those previously unconnected.
Shares of the space cellular and broadband company are rallying 31% through early trading on Wednesday, March 9, 2022. Over the past three months, AST SpaceMobile has seen average daily volume of 856,670 shares. However, volume of 28.68 million shares or dollar volume of around $251.52 million, has already exchanged hands through early trading.
The space connectivity company announced that it has entered into a multi-launch agreement with Space Exploration Technologies Corp. (SpaceX). The first launch is planned for this summer, which will feature AST SpaceMobile’s BlueWalker 3 (BW3) test. The initial launch will serve as a framework and test for future launches of the BW3 satellite.
The BW3 satellite is planned to launch from Cape Canaveral, Florida via a SpaceX Falcon 9 vehicle. AST SpaceMobile’s satellite has an aperture of 693 sq. ft. and is designed to transmit 3GPP standard frequencies to cellular devices.
“This agreement secures the availability for a reliable launch of our first production satellites out of the U.S.,” said AST SpaceMobile Founder, Chairman and CEO Abel Avellan. “Our summer launch of BlueWalker 3 will complete the development phase for our company. We have also been industrializing our technology and preparing for the launch of the BlueBird satellites, with this agreement as a key step.”
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