Exhibit 11

 

[***] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

PRICING NOTICE

 

Date: June 22, 2026
   
To:

AA Gables 2, LLC

Midland International Air & Space Port

2901 Enterprise Lane Midland, Texas 79706

Attn: Abel Avellan

Email: aavellan@ast-science.com

   
From:

Citibank, N.A.

388 Greenwich Street

New York, NY 10013

Attn: Equity Derivatives

 

Reference Number:   [         ]

 

The purpose of this Pricing Notice is to confirm the terms and conditions of the Transaction entered into between Citibank, N.A. (“Citibank”) and AA Gables 2, LLC (“Counterparty”) on the Trade Date specified below. This Pricing Notice is a binding contract between Citibank and Counterparty as of the relevant Trade Date for the Transaction referenced below.

 

1. This Pricing Notice supplements, forms part of, and is subject to the Master Terms and Conditions for Prepaid Variable Share Forward Transactions dated as of June 22, 2026 between Citibank and Counterparty (as amended and supplemented from time to time, the “Master Confirmation”). All provisions contained in the Agreement (as modified and as defined in the Master Confirmation) shall govern this Pricing Notice, except as expressly modified below, and capitalized terms used but not defined herein shall have the meanings specified in the Master Confirmation.

 

2. The terms of the Transaction to which this Pricing Notice relates are as follows:

 

Trade Date:   June 22, 2026
     
Hedge Completion Date:  

June 22, 2026

 

Prepayment Amount:   USD 146,719,296.00
     
Prepayment Date   June 24, 2026
     
Initial Share Price:   USD [***]
     
Forward Floor Price:   USD 59.5814
     
Forward Cap Price:   USD 111.7152
     
Final Disruption Date:   April 3, 2028

 

For each Component of the Transaction, the Number of Shares and the Scheduled Valuation Date are as set forth below.

 

Component Number   Number of Shares   Scheduled Valuation Date
1   625,000   March 17, 2028
         
2   625,000   March 20, 2028
         
3   625,000   March 21, 2028
         
4   625,000   March 22, 2028

 

 

 

 

Counterparty hereby agrees (a) to check this Pricing Notice carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing correctly sets forth the terms of the agreement between us with respect to the particular Transaction to which this Pricing Notice relates by signing this Pricing Notice and providing any other information requested herein or in the Master Confirmation and immediately sending a facsimile transmission of an executed copy to us.

 

  Yours sincerely,
   
  CITIBANK, N.A.
   
  By: /s/ Eric Natelson
    Authorized Representative

 

Acknowledged and Confirmed as of the date first above written:

 
     
AA Gables 2, LLC  
     
By: Abel Avellan, its managing member  
     
By: /s/ Abel Avellan  
Name: Abel Avellan  
Title: Managing Member  

 

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