By Will FeuerAST SpaceMobile, a startup building a space-based cellular network, said it has received a $155 million investment from AT&T, Google and existing investor Vodafone. AST SpaceMobile said it also plans to draw up to $51.5 million from the company's existing senior-secured credit facility, giving it total new financing of $206.5 million. AT&T has for years worked with AST SpaceMobile in a bid to develop so-called direct-to-device capabilities, whereby satellites beam service directly to unmodified cellphones. AT&T's decision to take a stake in AST SpaceMobile deepens the two companies' ties. Write to Will Feuer at Will.Feuer@wsj.com(END) Dow Jones NewswiresJanuary 18, 2024 16:45 ET (21:45 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal January 19, 2024 09:52 UTC