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AST SpaceMobile (NASDAQ:ASTS) stock is moving lower on Wednesday following the company said it will redeem all outstanding publicly traded warrants.
What To Know: The company will redeem these warrants at a price of $0.01 per warrant on September 27.
Under the warrant agreement, AST SpaceMobile holds the right to redeem its public warrants at the aforementioned price if the sale price of its Class A Common stock has been at least $18.00 per share for 20 trading days within a 30 day period. This condition was satisfied on August 23.
Until 5:00 pm Eastern Standard Time on September 27, warrant holders may exercise their warrants and receive Class A Common Stock in exchange for a payment in cash of $11.50 for each warrant exercised.
How To Buy AST SpaceMobile Shares
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in AST SpaceMobile (NASDAQ:ASTS)'s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: Alibaba’s Stock Connect Addition May Unlock $3.2B, Boost Global Markets: Report
ASTS Price Action: At the time of publication, AST SpaceMobile stock is trading 5.92% lower at $29.27, according to data from Benzinga Pro.
Image: Photo via Company
Posted In: ASTS
