Space-Based Cellular Company Announces BOD
AST & Science, LLC ("AST"), a company building what it says is the first and only space-based cellular broadband network accessible directly by standard mobile phones, has announced the Board of Directors of AST SpaceMobile, Inc. ("AST SpaceMobile"). AST SpaceMobile will be a public company following AST's expected business combination with New Providence Acquisition Corp, a special purpose acquisition company.
"We're thrilled to have the expertise of our board members, who are pioneers in their industries, including the additions of Edward Knapp of American Tower, Richard Sarnoff of KKR, Ronald Rubin of Tower Alliance, Julio Torres of Multiple Equilibria Capital and Alex Coleman of NPA," said Abel Avellan, Chief Executive Officer and Chairman of AST SpaceMobile. "With our Board leadership team now in place, we're preparing for the approaching close of our business combination, enabling our next phase of rapid growth."
The AST Business Combination was structured to provide adequate funding to build and launch AST SpaceMobile's first phase of 20 production satellites by early 2023 for space-based cellular communication. These satellites are expected to initially enable service to equatorial regions, covering 1.6 billion people and begin generating revenue in collaboration with world-class mobile network operators that include one of our founding and strategic technology partners, Vodafone.
AST SpaceMobile's goal, in partnership with existing mobile operators, is to eliminate the connectivity gaps faced by today's 5 billion mobile subscribers and finally bring broadband to approximately half of the world's population who remain unconnected.
Members of the AST SpaceMobile Board of Directors after closing will include:
Edward Knapp, Chief Technology Officer for American Tower Corporation
Richard Sarnoff, Partner at Kohlberg Kravis Roberts & Company ("KKR")
Ronald Rubin, Co-Founder and Managing Director of Tower Alliance, LLC.
Julio A. Torres, Managing Partner at Multiple Equilibria Capital
Alexander Coleman, NPA's Chairman
These leaders will join individuals who currently serve on AST's Board of Directors as directors of AST SpaceMobile, including:
Abel Avellan, AST's Chief Executive Officer and Chairman
Thomas Severson, Chief Financial and Operating Officer of AST
Hiroshi Mikitani, Chairman and Chief Executive Officer of Rakuten, Inc.
Tareq Amin, Group Executive Vice President and Chief Technology Officer of Rakuten, Inc.
Luke Ibbetson, Head of Group R&D at Vodafone Group
Adriana Cisneros, Chief Executive Officer of Cisneros
Upon the closing of the AST Business Combination, AST SpaceMobile's class A common stock is expected to trade on Nasdaq under the ticker symbol "ASTS."
(Image provided with AST & Space news release)