Memorandum of Understanding Would Explore
Opportunities to Extend AST SpaceMobile's Planned Coverage to Globe
Telecom Customers
AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the
company building the first and only space-based cellular broadband
network designed to be accessible directly by standard mobile
phones, today announced a Memorandum of Understanding ("MoU") with
Globe Telecom, Inc. ("Globe") (NASDAQ: GTMEF).
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the full release here:
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Globe is a leading digital platform in the Philippines, serving
consumers and businesses’ telecommunications and technology needs,
including about 86 million wireless subscribers.
"The Philippines’ thousands of islands create formidable
challenges to meet a growing demand for cellular broadband
connectivity," said Chris Ivory, Chief Commercial Officer of AST
SpaceMobile. “We believe our planned space-based network solution
is well-suited to help, and we’re excited to work with Globe.”
Once launched, AST SpaceMobile would aim to provide Globe with
expanded coverage and reach to remote and underserved areas.
“Globe has always been a pioneer in bringing first-to-market
digital solutions to empower Filipinos. This collaboration is
another step in Globe's continuing initiatives to provide digital
connectivity to remote rural communities as part of its commitment
to the United Nations Sustainable Development Goals. It is our
mission to enable inclusive economic growth and provide quality
education and e-health even in remote and still unconnected rural
communities," said Gerhard Tan, Globe’s Network Strategy and
Technology Enablement Director.
AST SpaceMobile has entered into agreements and understandings
with mobile network operators which collectively service over 1.8
million cellular customers.
About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular
broadband network in space to operate directly with standard,
unmodified mobile devices based on our extensive IP and patent
portfolio. Our engineers and space scientists are on a mission to
eliminate the connectivity gaps faced by today's more than 5
billion mobile subscribers and finally bring broadband to the
billions who remain unconnected. Our partners in this effort
include leading global wireless infrastructure companies such as
Rakuten Mobile, Vodafone and American Tower. For more information,
follow AST SpaceMobile on Facebook, Twitter, LinkedIn and YouTube.
Watch this video for an overview of the SpaceMobile mission.
About Globe
Globe Telecom, Inc. is a leading digital platform in the
Philippines, with major interests in telecommunications, financial
technology, digital marketing solutions, venture capital funding
for startups, entertainment, and virtual healthcare. The company
serves the telecommunications and technology needs of consumers and
businesses across an entire suite of products and services
including mobile, fixed, broadband, data connectivity, internet and
managed services. In 2019, Globe became a signatory to the United
Nations Global Compact, committing to implement universal
sustainability principles. Its principals are Ayala Corporation and
Singtel, acknowledged industry leaders in the country and in the
region. It is listed on the Philippine Stock Exchange under the
ticker symbol GLO and had a market capitalization of US$8.7 billion
as of the end of December 2021. For more information, visit
www.globe.com.ph. Follow @enjoyglobe on Facebook, Twitter,
Instagram and YouTube.
Forward-Looking Statements
This communication contains "forward-looking statements" that
are not historical facts, and involve risks and uncertainties that
could cause actual results of AST SpaceMobile to differ materially
from those expected and projected. These forward-looking statements
can be identified by the use of forward-looking terminology,
including the words "believes," "estimates," "anticipates,"
"expects," "intends," "plans," "may," "will," "would," "potential,"
"projects," "predicts," "continue," or "should," or, in each case,
their negative or other variations or comparable terminology. These
forward-looking statements include, without limitation, statements
concerning AST SpaceMobile's expectations with respect to future
performance and market size.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside AST SpaceMobile’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (i) expectations regarding AST SpaceMobile’s strategies
and future financial performance, including AST’s future business
plans or objectives, expected functionality of the SpaceMobile
Service, anticipated timing and level of deployment of satellites,
anticipated demand and acceptance of mobile satellite services,
prospective performance and commercial opportunities and
competitors, the timing of obtaining regulatory approvals, ability
to finance its research and development activities, commercial
partnership acquisition and retention, products and services,
pricing, marketing plans, operating expenses, market trends,
revenues, liquidity, cash flows and uses of cash, capital
expenditures, and AST’s ability to invest in growth initiatives;
(ii) the negotiation of definitive agreements with mobile network
operators relating to the SpaceMobile service that would supersede
memoranda of understanding and preliminary agreements; (iii) the
ability of AST SpaceMobile to grow and manage growth profitably and
retain its key employees and AST SpaceMobile’s responses to actions
of its competitors and its ability to effectively compete; (iv)
changes in applicable laws or regulations; (v) the possibility that
AST SpaceMobile may be adversely affected by other economic,
business, and/or competitive factors; (vi) the outcome of any legal
proceedings that may be instituted against AST SpaceMobile; and
(vii) other risks and uncertainties indicated in the Company’s
filings with the SEC, including those in the Risk Factors section
of AST SpaceMobile’s Annual Report on Form 10-K, to be filed with
the SEC on March 31, 2022.
AST SpaceMobile cautions that the foregoing list of factors is
not exclusive. AST SpaceMobile cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. For information identifying important factors
that could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
Risk Factors included in AST SpaceMobile’s Annual Report on Form
10-K, filed with the SEC on March 31, 2022. AST SpaceMobile’s
securities filings can be accessed on the EDGAR section of the
SEC’s website at www.sec.gov. Except as expressly required by
applicable securities law, AST SpaceMobile disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220428005725/en/
AST SpaceMobile Investor: Scott Wisniewski
investors@ast-science.com Media: Brandyn Bissinger
press@ast-science.com +1 866 845 6521 Globe Telecom,
Inc. Yoly C. Crisanto gtcorpcomm@globe.com.ph
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