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AST SpaceMobile shares rise as the space SPAC stock begins trading on the Nasdaq

April 7, 2021

Via: CNBC
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Shares of satellite-to-smartphone broadband company AST SpaceMobile began trading on the Nasdaq on Wednesday, with the company the first among a flurry of recent space companies to close its SPAC deal.

AST SpaceMobile trades under the ticker ASTS, with shares previously listed under the SPAC New Providence before the merger.

A SPAC—or special purpose acquisition company—is a shell company that’s designed to raise money through an initial public offering for the purpose of acquiring a private firm and taking it public.

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