AST SpaceMobile ($ASTS) Partners with Verizon ($VZ) for $100M, Stock Surges 16.3% Pre-Market

May 29, 2024, 11:46 AM

AST SpaceMobile ($ASTS) has entered into a strategic partnership with Verizon ($VZ), securing a $100 million investment. This deal adds to AST SpaceMobile's recent commercial agreement with AT&T ($T) and aims to provide 100% geographical coverage of the continental United States using premium 850 MHz cellular spectrum. The initiative is designed to enhance connectivity and eliminate dead zones by delivering satellite internet directly to unmodified phones later this year. AST SpaceMobile's stock surged 16.3% pre-market and 15% following the announcement.