L-band

Ligado

The AST–Ligado L-band transaction as AST's SEC filings, the Delaware bankruptcy record, and the FCC public notice describe it. Ligado still holds the licenses. The usage-rights deal had not closed as of 30 Sep 2026.

1. 2026-10-05

   Sound Point facility expired

   AST's note says the $550 million Sound Point delayed-draw facility, which SpectrumCo could draw until 5 Oct 2026, expired that day. The company did not take the 180-day extension.

   • AST Q3 2026 note 13

2. 2026-09-30

   Closing still open at quarter-end

   As of 30 Sep 2026 AST recorded about $262.2 million of advanced consideration and said closing was still subject to regulatory approvals for the proposed use and other conditions. The note also says $103.1 million had been paid toward the L-band annual and revenue-share payments, and $31.3 million toward the Crown Castle annual payment.

   • AST Q3 2026 note 13

3. 2026-04-02

   Bankruptcy court put the $100 million payment in escrow

   AST says it paid the $100 million on or about 31 Mar 2026, intended for Inmarsat. A 2 Apr 2026 bankruptcy-court order placed that payment in escrow. Release depends on the Chapter 11 plan becoming effective or a further court order.

   • AST Q3 2026 note 13

4. 2026-03-02

   Third Circuit vacated the stay of Inmarsat's support obligation

   The Third Circuit says the District of Delaware stayed, on 27 Feb 2026, a bankruptcy-court order that required Inmarsat to support Ligado's FCC application. Ligado and AST asked the court of appeals to lift that stay before the FCC comment deadline of 2 Mar 2026. The Third Circuit vacated the stay that morning. The opinion describes the 2007 cooperation agreement between the companies' predecessors, the January 2025 Chapter 11 case, and Inmarsat's objection to using the spectrum on a non-geostationary system.

   • U.S. Court of Appeals for the Third Circuit, No. 26-1444

5. 2026-01-30

   FCC accepted the application for filing, not a grant

   Accepted for filing on 30 Jan 2026. Public notice SAT-01970 is not a grant. It accepted SAT-MOD-20251206-00374, call sign S2358. Ligado, as debtor in possession, asks to modify the SkyTerra-1 geostationary license to add SkyTerra Next space stations on 96 AST non-geostationary satellites. The notice lists 1525–1544 MHz and 1545–1559 MHz space-to-Earth, and 1626.5–1645.5 MHz and 1646.5–1660.5 MHz Earth-to-space, and waivers of sections 25.156(d) and 25.157. The same day, the bankruptcy court ordered Inmarsat to support the application.

   • FCC public notice SAT-01970, copy in the Delaware record
   • ICFS file SAT-MOD-20251206-00374
   • District of Delaware opinion, No. 26-118

6. 2025-12-08

   Ligado filed the modification

   The FCC public notice lists 8 Dec 2025 as the filing date. Ligado said the application adds an MSS system, SkyTerra Next, hosted on AST's low-Earth-orbit constellation, and that a grant would complement the licensed geostationary SkyTerra system.

   • FCC public notice SAT-01970, copy in the Delaware record
   • Ligado, 8 Dec 2025

7. 2025-10-31

   AST paid $420 million for Inmarsat's benefit

   AST says it made the $420 million payment due 31 Oct 2025. The same day, BackstopCo entered a cash-collateralized $420 million facility with UBS AG, Stamford Branch. AST presents the $520 million of payments made so far as capital advances.

   • AST Q3 2026 note 13

8. 2025-09-29

   Bankruptcy court confirmed Ligado's plan

   AST says the court confirmed Ligado's Chapter 11 plan on or about 29 Sep 2025. The 8-K had said spectrum-usage payments were to begin 30 Sep 2025. Confirmation is not the closing of AST's usage rights.

   • AST Q3 2026 note 13
   • AST Form 8-K, 23 Jun 2025

9. 2025-06-23

   Bankruptcy court approved the transaction, not an FCC grant

   This row is a Delaware bankruptcy-court approval of the transaction. It is not an FCC approval and it is not a spectrum grant. The court approved the term sheet, the March definitive agreements, and the 13 Jun 2025 settlement term sheet with Viasat and Inmarsat. The settlement says Inmarsat will support usage rights for 80 years or more over up to 40 MHz of L-band MSS in the United States and Canada, plus 5 MHz at 1670–1675 MHz in the United States, and will support FCC and ISED applications for a non-geostationary system. Of the $550 million, $535 million is for Inmarsat: $420 million on 31 Oct 2025, $100 million on 31 Mar 2026, and $15 million at specified approvals and closing, with the remaining $15 million to Ligado at closing. Those early payments depend on a sponsor backstop that refunds AST if the approvals and closing do not happen.

   • AST Form 8-K, 23 Jun 2025
   • Ligado, 1 Jul 2025

10. 2025-03-22

    Definitive agreements signed

    AST, AST LLC, Spectrum USA I, LLC, and Ligado signed the framework and usage agreements. AST's later note states a $550 million contingent payment, at least $80 million a year for up to 40 MHz of L-band, a separate cash usage fee for up to 5 MHz at 1670–1675 MHz, and 4,714,226 penny warrants. The warrants were exercised in the quarter ended 31 Mar 2026. Closing was subject to regulatory approvals.

    • AST Form 8-K, 23 Jun 2025
    • AST Q3 2026 note 13

11. 2025-01-05

    Term sheet, and Ligado's Chapter 11 petitions

    AST LLC and Ligado signed a binding strategic collaboration term sheet for long-term access to up to 45 MHz of lower mid-band spectrum in the United States and Canada. The same day, Ligado and certain subsidiaries filed Chapter 11 petitions in Delaware. The term sheet was part of that restructuring.

    • AST Form 8-K, 23 Jun 2025
    • AST Q3 2026 note 13

The usage-rights row on Spectrum stays an agreement, not a grant.

Last reviewed 2026-11-14. Sources are linked beside the claims they support.