AST SpaceMobile (ASTS) said Wednesday it has won a new contract award from the US Space Development Agency valued at around $43 million to continue work on a space-based cellular communications network in low-Earth orbit.
The new contract builds on a preliminary contract award disclosed by AST SpaceMobile in February 2024 that it received through an unnamed prime contractor working with the federal government, and follows recent testing of its BlueWalker-3 network, the company said.
The Space Development Agency is expected to accelerate delivery of military satellites and supporting hardware for its Proliferated Warfighter Space Architecture, which will use AST SpaceMobile's next generation Block 2 BlueBird satellites, the company said.
AST SpaceMobile shares were trading nearly 17% higher in recent Wednesday trading.
Price: 30.94, Change: +4.77, Percent Change: +18.23
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.