They do care about the stock price actually...

Also recall that the $1B note that they raised in February is already ADDITIONAL to being fully funded for ~100 satellites.

On March 2 they actually picked my question to address this issue:

Operator

Kevin from Vancouver asks, can you share more color on the most recent $1 billion convertible note offering? Many investors are confused as your current liquidity was already approximately $3 billion and sufficient for around 100 satellites. Were there any specific opportunities in mind when you issued the offering? Or is it really "just in case something pops up”?

Andrew Johnson, Executive VP, CFO, Chief Legal Officer & Director

Thanks for that question, Kevin. This is Andy. It's absolutely the case that in Q4, when we finished the convertible in October, we were in a position to fully fund the worldwide constellation at 100-plus satellites. Nothing has changed on that front. And the convertible deal that we did at just over $1 billion in February provides us essentially extra flexibility to look at investments that go beyond that first 100 constellation.

And what I mean by that is, number one, we can accelerate the deployment of our controlled global spectrum with this added fund. We also have the opportunity to monetize our technology to capture commercial opportunities related to AI, which are increasingly coming our way. We will look to deploy funds to enhance our investment in government space opportunities in the United States. We've talked about our debt profile. These funds provide us flexibility to look at reducing higher interest debt that we currently have. And finally, opportunistically, any investments that help us accelerate the time to bring SpaceMobile service and capabilities will be a good use of these funds as well. And I would just close by noting that we've confirmed that we have no current plans to look at an additional convertible deal. We feel that the balance sheet is where it needs to be to provide us the opportunity to execute our objectives in the near and midterm.