AST SpaceMobile, Verizon form strategic partnership

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Midland Spaceport Business Park. | Midland Spaceport Business Park.

The Midland Spaceport Business Park announced that a strategic partnership has been formed between AST SpaceMobile and Verizon late last month. The goal of the partnership is to achieve 100% geographical coverage of the continental U.S. from space on premium 850 MHz cellular spectrum.

According to the spaceport, in a June 3 Facebook post, the partnership has a commitment of $100 million.

AST SpaceMobile head Abel Avellan said in a company-issued press release that the partnership seeks to enhance cellular connectivity in the U.S., thus eliminating dead zones and empowering remote areas of the country with space-based connectivity.

The release stated that the $100 million commitment from Verizon consists of $65 million in commercial prepayments, $45 million of which are subject to certain conditions, and $35 million in convertible notes.

Currently, according to the release, AST SpaceMobile has agreements with more than 45 mobile network operators globally who collectively serve over 2.8 billion existing subscribers. Headquartered in Midland, the company has manufacturing and testing facilities that collectively span 185,000 square feet.