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AST SpaceMobile AST SpaceMobile Provides Third Quarter 2021 Business Update November 15 , 2021 MIDLAND , Texas -- ( BUSINESS WIRE ) -- Nov . 15 , 2021-- AST Space Mobile , Inc. ( " AST SpaceMobile " ) ( NASDAQ : ASTS ) , the company building the first and only space - based cellular broadband network accessible directly by standard mobile phones , today provided its business update for the third quarter of 2021 . " Since our last quarterly business update , we have made significant progress and we are now entering the last stage of build , integration and testing of our next satellite , BlueWalker 3 , " said Abel Avellan , Chairman and CEO of AST Space Mobile . Abel added , " Today , we are very pleased to announce that we have entered into an agreement to purchase an additional 100,000 square foot facility in Midland , Texas , complementing our existing 85,000 square foot headquarters facility . This is an important step for the industrialization of our technology , as this will provide us the potential capacity to reach our production goal of six satellites per month . " Business Highlights • Our next satellite , BlueWalker 3 , a 693 - square - foot phased array for planned direct - to - cell phone connectivity at 4G / 5G speeds , is going through final integration and testing , with all components for the build now on hand • Midland , Texas headquarters buildout is completed with approximately 35,000 square feet of clean room for assembly , as well as test equipment to support production requirements • Entered into an agreement to purchase an additional 100,000 square foot facility in Midland , Texas , which , together with our headquarters facility , will provide a combined 185,000 square feet of capacity • Signed a lease for approximately 16,000 square feet of new space for our Maryland Technology Center , intended to be the future home of our Satellite Operations Center and Network Operations Center • Signed Memoranda of Understanding ( " MOUs " ) with MTN Group ( Africa , Middle East ) , YTL Communications ( Malaysia ) and Somcable ( Somaliland ) • Growth of 40 employees across all offices in the third quarter of 2021 , with a team of 509 as of September 30 , 2021 , including 301 full - time employees , 47 full - time contractors and 161 employees of 3rd party engineering service providers working on AST SpaceMobile Third Quarter 2021 Financial Highlights • Ended the third quarter with cash and cash equivalents of $ 360.4 million and no financial debt as of September 30 , 2021 • Total operating expenses of $ 23.1 million for the third quarter of 2021 , compared to $ 25.1 million in the second quarter of 2021 , primarily due to a decrease in research and development costs of $ 4.7 million , partially offset by $ 2.2 million increase in engineering services , $ 0.4 million in depreciation and amortization , and $ 0.1 million in general and administration expenses • As of September 30 , 2021 , invested $ 56.7 million in the construction of BlueWalker 3 satellite , which includes non - recurring engineering development cost , satellite componentry , and launch cost • As of September 30 , 2021 , invested $ 19.9 million in property and equipment , net of accumulated depreciation , primarily in the buildout of the headquarters facility in Midland , Texas Conference Call Information AST Space Mobile will hold a quarterly business update conference call at 5:00 p.m. ( Eastern Time ) today , November 15 , 2021. The call will be accessible via a live webcast on the Events page of AST SpaceMobile's Investor Relations website at https://investors.ast-science.com/ . An archive of the webcast will be available shortly after the call . About AST SpaceMobile AST Space Mobile 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 five billion mobile subscribers and finally bring broadband to the billions who remain unconnected . For additional information or to be added to our investor relations email alerts list , please visit us at https://investors.ast-science.com/ir-resources / email - alerts . Forward - Looking Statements This communication contains " forward - looking statements " that are not historical facts , and involve risks and uncertainties that could cause actual