Membership recognizes AST SpaceMobile as one of
the largest 1,000 U.S. companies by market capitalization
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the
company building the first and only space-based cellular broadband
network accessible directly by everyday smartphones, designed for
both commercial and government applications, today announced it is
set to join the U.S. large-cap Russell 1000® Index, effective after
the U.S. market closes on June 27, as part of the 2025 Russell
indexes reconstitution.
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the full release here:
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AST SpaceMobile is Set to Join the U.S.
Large-Cap Russell 1000® Index
Inclusion in the Russell 1000® Index, which tracks the largest
1,000 U.S. companies by market capitalization, reflects AST
SpaceMobile’s advancing position as a leader in delivering
space-based cellular broadband worldwide.
“Joining the Russell 1000® Index marks another important
milestone as we work to deliver on our mission of eliminating
coverage gaps and bringing cellular broadband connectivity directly
to the mobile devices of the billions of people who remain
unconnected,” said Andrew Johnson, Chief Financial Officer of AST
SpaceMobile. “This inclusion will expand our visibility among
investors as we continue to advance our technology, scale
operations, and execute against our global growth plans.”
Membership in the Russell 1000® Index, which remains in place
for one year, is based on membership in the broad-market Russell
3000® Index. Russell indexes are widely used by investment managers
and institutional investors for index funds and as benchmarks for
active investment strategies. According to the data as of the end
of June 2024, about $10.6 trillion in assets are benchmarked
against the Russell US indexes, which belong to FTSE Russell, the
global index provider.
For more information on the Russell 1000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
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, and designed for both
commercial and government applications. 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 more
information, follow AST SpaceMobile on YouTube, X (formerly
Twitter), LinkedIn and Facebook. Watch this video for an overview
of the SpaceMobile mission.
About FTSE Russell, an LSEG Business FTSE Russell is a
global index leader that provides innovative benchmarking,
analytics and data solutions for investors worldwide. FTSE Russell
calculates thousands of indexes that measure and benchmark markets
and asset classes in more than 70 countries, covering 98% of the
investable market globally. FTSE Russell index expertise and
products are used extensively by institutional and retail investors
globally. Approximately $18.1 trillion is benchmarked to FTSE
Russell indexes. Leading asset owners, asset managers, ETF
providers and investment banks choose FTSE Russell indexes to
benchmark their investment performance and create ETFs, structured
products and index-based derivatives. A core set of universal
principles guides FTSE Russell index design and management: a
transparent rules-based methodology is informed by independent
committees of leading market participants. FTSE Russell is focused
on applying the highest industry standards in index design and
governance and embraces the IOSCO Principles. FTSE Russell is also
focused on index innovation and customer partnerships as it seeks
to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For
more information, visit FTSE Russell.
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 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 could 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 of the launch of the Block 2 BlueBird
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 SpaceMobile’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 preliminary agreements and memoranda of
understanding and the ability to enter into commercial agreements
with other parties or government entities; (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 Securities and Exchange Commission (SEC),
including those in the Risk Factors section of AST SpaceMobile’s
Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed
with the SEC on May 12, 2025.
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 in AST SpaceMobile’s Form 10-K filed with the SEC on
March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. 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/20250610443528/en/
Investor Contact: Scott Wisniewski
investors@ast-science.com
Media Contact: Allison Eva Murphy Ryan 917-547-7289
AstSpaceMobile@allisonpr.com
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