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Top related persons:
Abel Avellan - 1 Kalapala - 1
Top related locs:
United States
Top related orgs:
AST - 1 Verizon - 1 AT - 1

Search resuls for: "Abel Avellan"


2 mentions found


☆ AST SpaceMobile partners with Verizon, adding to AT&T coverage deal for satellite internet to phones
  + stars: | 2024-05-29 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com   time to read: +1 min
Satellite-to-phones service provider AST SpaceMobile announced a partnership with Verizon on Wednesday, adding to the company's recent deal with AT&T to provide remote coverage across the United States. AST SpaceMobile is building satellites to provide broadband service to unmodified smartphones, in the nascent "direct-to-device" communications market. The company's chairman and CEO, Abel Avellan, touted AST's agreements with Verizon and AT&T as "essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity." Verizon's deal effectively includes a $100 million raise for AST, as well, in the form of $65 million in commercial service prepayments and $35 million in debt via convertible notes. The companies said that $45 million of the prepayments "are subject to certain conditions" such as needed regulatory approvals and signing of a definitive commercial agreement.
Persons: Abel Avellan, Kalapala Organizations: AST, Verizon, AT Locations: United States
☆ AST SpaceMobile stock jumps after company hits key milestone toward satellite-to-smartphone 5G service
  + stars: | 2022-11-14 | by ( Michael Sheetz | ) www.cnbc.com   time to read: +1 min
A view from onboard the satellite, captured after deploying the 693-square foot array. Satellite-to-smartphone connectivity venture AST SpaceMobile announced on Monday that the wide antenna of its recently launched test satellite deployed successfully — a critical milestone in the company's development of a global network to provide 5G broadband service. The BlueWalker 3 satellite, launched on SpaceX's Falcon 9 rocket in September, deployed its 693-square-foot antenna – which the company calls the largest-ever array deployed in low Earth orbit. AST SpaceMobile stock jumped about 18% in premarket trading Monday from its previous close of $8.83 a share. Our goal is to close the connectivity gaps that negatively impact billions of lives around the world," AST SpaceMobile chairman and CEO Abel Avellan said in a statement.
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