AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the
company building the first and only space-based cellular broadband
network designed to be accessible directly by standard mobile
phones, today announced the appointment of Sean Wallace as
Executive Vice President and Chief Financial Officer. Wallace will
assume his new role effective May 10, 2022.
Wallace brings decades of diverse financial experience across
emerging markets, capital markets and international
telecommunications operations to AST SpaceMobile's executive team.
He most recently served as Chief Financial Officer and Treasurer
for Cogent Communications, one of the leading internet service
providers in the world with operations in 50 countries. In that
role, his responsibilities focused on capital raising, evaluating
strategic opportunities as well as financial planning and analysis.
Wallace is a graduate of Harvard College and Harvard Business
School.
“I am honored to join this amazing team and excited to help lead
the company through its next phase of growth – with a mission of
eliminating the connectivity gaps faced by today's five billion
mobile subscribers,” said Sean Wallace.
Wallace joins the Company as it prepares for the planned summer
2022 launch of BlueWalker 3, its test satellite with an aperture of
693 square feet that is designed to communicate directly with cell
phones via 3GPP standard frequencies. Wallace replaces Tom
Severson, following his planned retirement.
"Sean is a strong addition to the company,” said AST SpaceMobile
Founder, Chairman and CEO Abel Avellan. “I’m extremely proud to add
Sean to our executive management team. Finding Sean was part of a
careful long search that allowed our current CFO, Tom Severson, the
opportunity to retire at this time. We are incredibly grateful to
Tom for his years of service and his contributions to the
company.”
Additional Information on Sean Wallace
Sean Wallace most recently served as Vice President, Chief
Financial Officer and Treasurer for Cogent Communications, a
position he has held since May 2020. Wallace has over 30 years of
experience in finance, telecom banking and other public company
management positions. Wallace was an investor and operator of
industrial real estate projects from 2015 to 2020. From 2008 to
2015, he was a senior manager at Standard Chartered Bank, where he
led their Corporate Finance and Wholesale Origination efforts on a
global basis. In addition, from 1998 to 2007, he worked at J.P.
Morgan, where his roles included being Co-Head of their Investment
Banking operations in the Asia Pacific region as well as leading
their North American Telecom Banking efforts.
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. 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
Facebook, Twitter, LinkedIn and YouTube. Watch this video for an
overview of the SpaceMobile mission.
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
preliminary agreements and 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 Company’s Annual Report on Form 10-K, filed with
the SEC on March 31, 2022.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220429005158/en/
AST SpaceMobile Investor: Scott Wisniewski
investors@ast-science.com Media: Brandyn
Bissinger press@ast-science.com +1 866 845
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