Shares of AST SpaceMobile rose post-market on Tuesday after the company said it was looking to close a strategic investment later this month, subject to the completion of final documentation and approvals.
The stock was up 6.4% to $5.16 in after-hours trading, following a 20% drop at Tuesday’s close. Shares are up 30% over the last three months.
The Midland, Texas-based company, which is developing broadband in space, had said it was moving forward with multiple strategic partners and was looking to close and fund in November or December 2023.
AST SpaceMobile said Tuesday it had secured initial ground infrastructure orders from two customers.