Since the end of Q4 AST have completed a $100m offering and a convertible note which will increase the share count by 37,096,773 in the Q1 2024 count

As at the end of Q4 AST SpaceMobile had 218,386,144 outstanding and they were split across the following three classes as follows:

wdt_ID Share Class Number of shares Difference to previous quarter
1 Class A 90,543,078 +867,749
2 Class B 49,679,988 -361,769
3 Class C 78,163,078 0
4 Total 218,386,144 +505,980

Between Q3 and the end of Q4 there was a modest increase in outstanding shares, the price rose in December based on the anticaption of AST closing a funding deal.

The B shares decreased by 361,769 which is the exact number of shares Samsung Next Fund owned in the company. This might indicate that they’ve converted their shares and might be planning an exit as the B shares aren’t publicly traded.

There has been an increase of 5,360,128 of shares being held by insiders, strategic partners and institutions with several trading firms buying a large amount of shares. This might decrease in Q1 with the funding taking longer than expected. The SpaceMob continue to put the money where their mouth is, between 73 of us we own 3,234,610 shares which is an increase of 540,838 compared to the previous quarter.

There are 177,847,759 (Q3 – 172,487,631) shares owned by insiders, employees, strategic partners and institutions. During Q4 there were several large increases, most notably by Broad Run Investment Management who acquired another 1,695,805 shares taking their position to just shy of 4 million.

The top 5 increases were

Fund Shares Owned Increase
Susquehanna International Group 2,306,525 +1,729,098
Broad Run Investment Management 3,962,853 +1,695,805
Group One Trading 749,245 +511,097
State Street Corp 1,771,206 +380,781
Blackrock 5,658,123 +344,743

The number of institutions who decreased their holding was much smaller with Polar Asset Management being the largest seller, although they still own a significant number of shares.

The top 5 decreases in the quarter were

Fund Shares Owned Decrease
Polar Asset Management 1,103,499 -641,900
Goldman Sachs 170,893 -463,781
Hudson Bay Capital 755,384 -296,231
Dark Forest Capital Management 0 -240,245
Centiva Capital 0 -230,381

At the year end short interest in the company was 17,817,287 shares, however due to the offering it has provided liquidity for shorts to exit their position. After the offering this had decreased to 12,571,775 shares although it has crept up with the latest update.

It will be interesting to see where this figure is at the end of Q1.

See below for a full list of the companies, funds, insiders and employees included in the calculation.