MIDLAND, Texas, March 11, 2021 /PRNewswire/ -- AST &
Science, LLC, the company building the first and only space-based
cellular broadband network accessible directly by standard mobile
phones, today announced that its total number of patent and
patent pending claims has reached 1,000.
The key patent technologies are protected in critical
jurisdictions around the world and cover all aspects of AST's
operations, including satellite architecture, satellite energy
efficiencies, deployment, and communication protocols providing
high throughput, ground coverage, reliability and compensation
using space to enable connectivity to regular cellular
handsets.
"Our extensive and growing patent portfolio is a testament to
the high level of innovation at AST," said Abel Avellan, Chief
Executive Officer and Chairman of AST & Science. "We are
inventing ground-breaking technologies that will transform how and
where people use their mobile devices, and bring hundreds of
millions of people in the developing world online for the first
time. By protecting our proprietary systems, we are ensuring that
AST will be the company that leads this revolution."
AST's goal is to eliminate the connectivity gaps faced by
today's 5 billion mobile subscribers and bring broadband to
approximately half of the world's population, who remain
unconnected in collaboration with world-class mobile network
operators, including Vodafone Group, Rakuten and American
Tower.
AST & Science plans to become a public company named AST
SpaceMobile (NASDAQ: ASTS) following AST's expected business
combination with New Providence Acquisition Corp. (NASDAQ: NPA,
NPAUU and NPAWW), a special purpose acquisition company this
year.
About AST SpaceMobile
AST SpaceMobile is building the first, and only, global
broadband cellular network in space to operate directly with
standard, unmodified mobile devices based on our extensive IP and
patent portfolio. Our team of engineers and space scientists are on
a mission to eliminate the connectivity gaps faced by today's five
billion mobile subscribers and finally bring broadband to the
billions who remain unconnected. Follow AST SpaceMobile on Twitter
(@AST_SpaceMobile) and LinkedIn.
About New Providence Acquisition Corp.
New Providence Acquisition Corp. is a special-purpose
acquisition company formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses. In
September 2019, New Providence
Acquisition Corp. consummated a $230
million initial public offering (the "IPO") of 23 million
units (reflecting the underwriters' exercise of their
over-allotment option in full), each unit consisting of one of the
Company's Class A ordinary shares and one-half warrant, each whole
warrant enabling the holder thereof to purchase one Class A
ordinary share at a price of $11.50
per share. New Providence's securities are quoted on the Nasdaq
stock exchange under the ticker symbols NPA, NPAUU and NPAWW.
Additional Information
New Providence Acquisition Corp. ("NPA") has filed a preliminary
proxy statement with the U.S. Securities and Exchange Commission
(the "SEC") in connection with the proposed business combination
(the "Business Combination") with AST & Science, LLC ("AST"),
and NPA will mail the definitive proxy statement and other relevant
documents to its stockholders. This communication does not contain
all the information that should be considered concerning the
Business Combination. It is not intended to provide the basis for
any investment decision or any other decision in respect to the
proposed Business Combination. NPA's stockholders and other
interested persons are advised to read the preliminary proxy
statement, any amendments thereto, and the definitive proxy
statement in connection with NPA's solicitation of proxies for the
special meeting to be held to approve the Business Combination as
these materials will contain important information about AST and
NPA and the proposed the Business Combination. The definitive
proxy statement will be mailed to the stockholders of NPA as of a
record date to be established for voting on the Business
Combination. Such stockholders will also be able to obtain copies
of the proxy statement, without charge, once available, at the
SEC's website at http://www.sec.gov.
Participants in the Solicitation
NPA, New Providence Acquisition Management LLC and their
respective directors, executive officers, other members of
management, and employees, under SEC rules, may be deemed to be
participants in the solicitation of proxies of NPA's stockholders
in connection with the Business Combination. Investors and
security holders may obtain more detailed information regarding the
names and interests in the Business Combination of NPA's directors
and officers in NPA's filings with the SEC, including NPA's Annual
Report on Form 10-K for the fiscal year ended
December 31, 2020, which was filed with the SEC on
March 1, 2021, and such information
and names of AST's directors and executive officers will also be in
the proxy statement of NPA for the Business Combination.
Stockholders can obtain copies of NPA's filings with the SEC,
without charge, at the SEC's website at www.sec.gov.
AST SpaceMobile and its directors and executive officers may
also be deemed to be participants in the solicitation of proxies
from NPA's stockholders in connection with the Business
Combination. A list of the names of such directors and executive
officers and information regarding their interests in the Business
Combination will be included in the proxy statement for the
Business Combination when available.
No Offer or Solicitation
This communication is for informational purposes only and is
neither an offer to purchase, nor a solicitation of an offer to
sell, subscribe for or buy any securities or the solicitation of
any vote in any jurisdiction pursuant to the Business Combination
or otherwise, nor shall there be any sale, issuance or transfer or
securities in any jurisdiction in contravention of applicable law.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended (the "Securities Act"), and otherwise in
accordance with applicable law.
Forward-Looking Statements
This communication includes "forward-looking statements" that
are not historical facts and involve risks and uncertainties that
could cause actual results to differ materially from those expected
and projected. All statements, other than statements of historical
fact contained in this communication including, without limitation,
statements regarding NPA's financial position, business strategy
and the plans and objectives of management for future operations;
anticipated financial impacts of the AST Business Combination; the
satisfaction of the closing conditions to the AST Business
Combination; and the timing of the completion of the AST Business
Combination, are forward-looking statements. Words such as
"expect," "believe," "anticipate," "intend," "estimate," "seek" and
variations and similar words and expressions are intended to
identify such forward-looking statements. Such forward-looking
statements relate to future events or future performance, but
reflect management's current beliefs, based on information
currently available.
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 NPA's and AST's control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (i) the occurrence of any event, change or other
circumstances that could give rise to the termination of the Equity
Purchase Agreement or could otherwise cause the AST Business
Combination to fail to close; (ii) the outcome of any legal
proceedings that may be instituted against NPA and AST following
the execution of the Equity Purchase Agreement and the AST Business
Combination; (iii) any inability to complete the AST Business
Combination, including due to failure to obtain approval of the
stockholders of NPA or other conditions to closing in the Equity
Purchase Agreement; (iv) the receipt of an unsolicited offer from
another party for an alternative business transaction that could
interfere with the AST Business Combination; (v) the inability to
maintain the listing of the shares of common stock of the
post-acquisition company on The Nasdaq Stock Market following the
AST Business Combination; (vi) the risk that the AST Business
Combination disrupts current plans and operations as a result of
the announcement and consummation of the AST Business Combination;
(vii) the ability to recognize the anticipated benefits of the AST
Business Combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably and retain its key employees; (viii) costs
related to the AST Business Combination; (ix) changes in applicable
laws or regulations; (x) the possibility that AST or the combined
company may be adversely affected by other economic, business,
and/or competitive factors; and (xi) other risks and uncertainties
indicated in the proxy statement, including those under the section
entitled "Risk Factors", and in NPA's other filings with the
SEC.
NPA cautions that the foregoing list of factors is not
exclusive. NPA 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
section of NPA's Annual Report on Form 10-K filed with the SEC.
NPA'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, NPA disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
Investor Contact:
Michael
Bowen
investors@ast-science.com
+1 (203) 682-8299
Media Contact:
Brandyn
Bissinger
press@ast-science.com
+1 866 845 6521
Scott Cianciulli
scott@theplunkettgroup.com
+1 (212) 739-6753
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SOURCE AST SpaceMobile