Space-Based Internet Start-Up AST to Go Public via SPAC Deal

AST & Science, a company trying to deliver broadband-speed internet to smartphones without any additional equipment, is jumping on the SPAC train, agreeing to a deal with special purpose acquisition company New Providence Acquisition (NASDAQ: NPA) that would take the company public.

AST is developing a constellation of satellites it calls SpaceMobile that it says will allow terrestrial phones to access 5G broadband speeds. There are a number of existing services that offer high-speed internet from space, including Iridium and SpaceX's Starlink service, but all existing options require special satellite phones or expensive base stations to access the networks.

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Source Fool.com