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Space-based cellular broadband network provider AST SpaceMobile is the latest special purpose acquisition company (SPAC) to go public after it completed its combination with New Providence Acquisition Corp. AST SpaceMobile common stock and warrants will now trade on the Nasdaq exchange under the ticker symbols ASTS and ASTSW, respectively. Speaking on a webinar hosted by SpaceNews and Quilty Analytics, AST SpaceMobile CEO Abel Avellan said the company took the SPAC route to its IPO so that it could bring its services to market more quickly. “The SPAC gives us the capital we need to proceed in a more timely manner and hit our target dates,” said Avellan. “It also allows the public to get more directly involved in what we’re doing as investors, which I think is a good thing for everyone.

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