AST SpaceMobile, Inc.

SAN DIEGO , Sept. 16, 2026 /PRNewswire/ -- Shareholder rights law firm Robbins LLP reminds investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired AST SpaceMobile, Inc. (NASDAQ: ASTS ) securities between March 4, 2025 and July 15, 2026, inclusive (the Class Period). S. The Company provides a cellular broadband network in space for direct access by smartphones for commercial use and other applications, as well as for government use. The complaint alleges that AST misled investors regarding its competitive position in the satellite D2C market.

Investors who suffered significant losses during the Class Period may be eligible to participate in the lawsuit and should contact Robbins LLP for information prior to the November 13, 2026, lead plaintiff deadline. Listen to our podcast . Why Was AST Sued? Plaintiff alleges that defendants touted AST's purportedly unique competitive advantages and leadership position in the satellite direct-to-cellular ("D2C") market. Defendants' assurances regarding AST's purportedly durable competitive position in the satellite D2C market came into question in September 2025, when EchoStar Corporation ("EchoStar") announced that it had entered into a definitive agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses (the "EchoStar Transaction").

In connection with the EchoStar Transaction, SpaceX and EchoStar agreed to enter into a long-term commercial agreement, enabling EchoStar's Boost Mobile subscribers—through its cloud-native 5G core—to access SpaceX's next generation D2C service provided by its telecommunications subsidiary Starlink Services, LLC. Following the EchoStar Transaction, however, defendants continued to assure investors and the market that AST remained in a competitive class of its own, with the Company poised to realize significant revenues and profits in the near-term.

Likewise, defendants continuously represented that AST's capital and liquidity position was sufficient to meet its strategic and business goals at all relevant times, notwithstanding the heightened competitive pressures it faced following the EchoStar Transaction. According to the complaint, during the Class Period, defendants failed to disclose that: Why Did AST's Stock Drop? Between September 8, 2025 and July 15, 2026, a series of stock downgrades and company disclosures caused AST's stock to fall significantly. Specifically, on October 21, 2025, AST announced "its intent to offer .

. 0 million aggregate principal amount of convertible senior notes due 2036 (the 'Notes') in a private offering", and that it "intends to grant the initial purchasers of the Notes . . an option to purchase . . 0 million aggregate principal amount of Notes." AST was to use the proceeds from this offering "for general corporate purposes, including without limitation funding the deployment of AST SpaceMobile's worldwide constellation of satellites in anticipation of adding incremental strategic markets for its SpaceMobile Service." 0 billion. 35 per share on October 22, 2025.

On February 11, 2026, AST announced its "intent to offer . . 0 billion aggregate principal amount of convertible senior notes due 2036 (the 'Notes') in a private offering", and that it "intends to grant the initial purchasers of the Notes . . an option to purchase . . 0 million aggregate principal amount of Notes." 30 per share of AST SpaceMobile's Class A common stock, which represents a premium of approximately 20% to the last reported sale price of AST SpaceMobile's Class A common stock on February 11, 2026." 22 per share on February 12, 2026.

0 billion aggregate principal amount of convertible senior notes due 2034 (the 'Notes') in a private offering", and that it "intends to grant the initial purchasers of the Notes . . an option to purchase . . up to an additional $150 million aggregate principal amount of Notes." Later the same day, AST announced the pricing of the foregoing offering. 625% convertible senior notes due 2034 . . 0% over the last reported sale price of AST SpaceMobile's Class A common stock on July 15, 2026", as well as "[c]apped call transactions . . 0% over the last reported sale price of AST SpaceMobile's Class A common stock on July 15, 2026."

01 per share on July 16, 2026. Who May Be Eligible to Participate in the AST Class Action? The lawsuit seeks to represent investors who purchased or otherwise acquired AST SpaceMobile, Inc. securities between March 4, 2025 and July 15, 2026. Investors who suffered losses during that period may have legal rights under the federal securities laws. What Is a Lead Plaintiff? The lead plaintiff is a court-appointed investor who represents the interests of all class members throughout the litigation. Serving as lead plaintiff is not required to share in any potential recovery.

Investors who do not seek appointment may remain absent class members if the case proceeds and later resolves successfully. Stockholders who wish to lead the class action should contact Robbins LLP for information. Does It Cost Anything to Participate? No. Robbins LLP represents investors on a contingency fee basis.