AST SpaceMobile agreed to pay Firefly Aerospace in cash, shares and service fees for engines and a manufacturing license, in a deal Firefly valued at more than $1.3 billion for AST’s planned Blacklift rocket.
AST’s disclosed consideration comprises cash, Class A shares, and payments for engine delivery and engineering support. Its Nov. 6 filing with the Securities and Exchange Commission values the manufacturing license at about $800 million, including $400 million in cash and 10 million to 14 million Class A common shares. The share count will be calculated using a forward volume-weighted average price (VWAP). Engine deliveries and three years of engineering work make up another $500 million, divided evenly between the two. AST’s release does not state a fixed final dollar total because the share payment varies.
Firefly is to deliver 27 Miranda engines and nine vacuum-variant Vira engines for AST’s first three Blacklift rockets. AST will receive a perpetual license to manufacture both engine models at a planned U.S. facility. Firefly says it will retain ownership of the engine intellectual property.
AST describes Blacklift as a reusable rocket designed to carry up to five BlueBird satellites per launch. The company aims to begin using it in late 2028. AST’s launch agreements with outside providers cover more than 100 BlueBird satellites slated for cumulative deployment across 2027 and 2028, and the company says it plans to keep using those providers.
Reuters has reported that satellite companies have faced difficulty securing launch capacity as providers direct more missions to their own constellations. Reuters also reported that Firefly made a similar engine-supply and intellectual-property agreement with Astra Space in 2021.
Firefly said it plans to use proceeds to add staff, obtain materials and equipment, and build several test bays in Briggs, Texas, to expand rocket production and testing.
AST has scheduled a business-update call for Monday, Nov. 9, at 5 p.m. ET. Firefly plans to discuss the deal during its earnings call Tuesday, Nov. 10, at 5 p.m. ET. AST has also scheduled a Blacklift unveiling in New York City for Thursday, Nov. 12.
