AST SpaceMobile targeted 12 September for the launch of its first five satellites to provide broadband service to mobile phones, which includes a plan to support beta test users from AT&T and Verizon.

The company stated it aims to launch its first five BlueBird satellites from Cape Canaveral in the US state of Florida using a SpaceX Falcon 9 rocket, though noted factors including weather conditions and the readiness of the craft could change the timing.

AST SpaceMobile will use Verizon and AT&T’s 850MHz spectrum, which is compatible with current standard smartphones, for a non-continuous, direct-to-device service in the US.

It stated the service will target approximately 100 per cent nationwide coverage with more than 5,600 cells.

The company originally aimed to launch its first satellites in Q1.

In a US Securities and Exchange Commission (SEC) filing last month, AST SpaceMobile stated it would require 25 satellites “to provide coverage to the most commercially attractive MNO markets”.

AST SpaceMobile currently has 17 Block 2 BlueBird satellites under construction. These are scheduled to launch in 2025 and have a larger array than its initial birds.

Financial update
Alongside updating on its satellite launch expectations, AST SpaceMobile revealed it had more than $440 million in pro forma cash, cash equivalents and restricted cash at the end of June.

The figure includes more than $155 million in expected warrant exchange proceeds, $71 million of which have already been received.

In the SEC filing last month, AST SpaceMobile estimated it would need to raise approximately $275 million to $325 million to fund operating expenses and capital expenditure covering design, assembly and launch of 20 Block 2 BlueBird satellites, along with the operation of a constellation of 25 birds.

Today (4 September), its chief financial and legal officer Andrew Johnson said it has “no plans to raise capital in an underwritten public equity offering” until at least the end of the year, with the company believing it is “sufficiently capitalised to execute our near-term operational initiatives”.