Memorandum of Understanding Would
Look Into Opportunities to Extend AST SpaceMobile’s Coverage to
Over 70 Million Smart Subscribers in the Philippines
AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the
first and only space-based cellular broadband network accessible
directly by standard mobile phones, today signed a Memorandum of
Understanding (MoU) to collaborate with Smart Communications, a
leading mobile services provider in the Philippines.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210706005405/en/
Alfredo S. Panlilio, Smart Communications
President and CEO and Abel Avellan, Chairman and CEO of AST
SpaceMobile, sign the Memorandum of Understanding. (Photo: Business
Wire)
The combined effort would explore opportunities to extend
SpaceMobile cellular broadband connectivity to the Philippines
mainland, islands and surrounding waters after the service is
launched.
“Our collaboration with Smart to look into opportunities to
offer the SpaceMobile service to their customers in rural
communities would allow the company to offer affordable broadband
cellular access to the unconnected for the first time ever,” said
Abel Avellan, Chairman and CEO of AST SpaceMobile. “With this MoU,
we have entered into agreements and understandings with mobile
network operators which collectively cover approximately 1.4
billion mobile subscribers.”
Under the MoU, AST SpaceMobile will seek to offer cellular
broadband network coverage to approximately 70 million Smart
subscribers following execution of definitive agreements and
successful launch of the SpaceMobile service.
“This collaboration between Smart and AST SpaceMobile strongly
supports this vision, as we continue to invest in our networks and
explore the most relevant innovations that will enable us to
continue expanding the reach of our services alongside delivering
exceptional customer experience across the Philippines’ more than
7,000 islands,” said Alfredo S. Panlilio, Smart Communications
President and CEO. “This new satellite communications technology
aims to help us accomplish our mission of connecting the entire
nation, where nobody gets left behind.”
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, LinkedIn, and for an overview on the SpaceMobile
mission, view this video.
About Smart Communications, Inc.
Smart Communications, Inc. (Smart) is a wholly-owned wireless
communications and digital services subsidiary of PLDT, Inc., the
Philippines’ largest and only integrated telco company. Smart
serves 96% of the country’s population with its combined 2G, 3G, 4G
LTE and 5G network, providing mobile communications services,
high-speed internet connectivity, and access to digital services
and content to over 71.8 million Filipinos (as of March 2021),
through its commercial brands Smart and TNT. Smart also offers
satellite communication services under the brand Smart World.
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; (iii) the ability to recognize the
anticipated benefits of the business combination, which may be
affected by, among other things, competition, the ability of AST
SpaceMobile to grow and manage growth profitably and retain its key
employees; (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 proxy statement, including those under the section entitled
“Risk Factors” in the Definitive Proxy Statement relating to the
business combination, and in the Company’s other filings with the
SEC.
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 section of the Definitive Proxy Statement relating to
the business combination. 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/20210706005405/en/
AST SpaceMobile Investor: Scott Wisniewski
investors@ast-science.com Media: Brandyn Bissinger
press@ast-science.com +1 866 845 6521 Smart Communications
Media: Cathy Yap-Yang corpcomm@smart.com.ph
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