Astra Space, Inc. is an American space company that aims to improve life on Earth from space. Initially an aerospace technology research firm, Astra shifted to developing launch vehicles and now focuses on providing dedicated orbital launch services and space products. They offer the Astra Spacecraft Engine™, an electric propulsion system for small satellites. Astra's customers include NASA, DARPA, Planet, Spire, and Spaceflight.
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Kemp and London originally offered to take Astra Space private in November 2023 at $1.50 per share.
Astra Space reported in a 2024-03-01 SEC filing that the special committee had studied alternatives to the take-private proposal, none of which came to fruition.
Astra Space, Inc. entered into a definitive merger agreement under which the acquiring entity (the Parent) will acquire all shares of Astra common stock not already owned by it for $0.50 per share in cash, subject to customary closing conditions.
Kemp and London planned for the financing to provide a minimum of $20,000,000 of cash to finance Astra Space’s operations.
Kemp and London anticipated raising $45,000,000 overall to take Astra private under the revised proposal.
Astra Space announced a partnership with SaxaVord Spaceport in May 2022 and previously expressed interest in launching from SaxaVord.
Astra Space raised $2,700,000 from investors through a subsequent financing disclosed in a filing with the U.S. Securities and Exchange Commission.
Astra Space exercised a delayed draw term provision valued at $2.5 million, increasing the value of the bridge loan to $5,500,000.
Astra Space released third-quarter financial results on 2024-11-16 reporting a net loss of $29,700,000 and revenue of $256,000.
Astra Space delivered eight Astra Spacecraft Engine electric propulsion systems with revenue for those deliveries recognized in the fourth quarter of 2024.
The bridge loan provided to Astra Space earlier in November 2024 was originally valued at $3,050,000.
Astra Space signed contracts with a total value of $11,700,000 for its Astra Spacecraft Engine electric propulsion systems, including one contract with a major non-U.S. defense prime and one contract with an international commercial space company.
JMCM Holdings LLC and SherpaVentures Fund II, LLP agreed to extend the maturity date of a loan to Astra Space by four days to 2024-11-21.
Astra Space founders Chris Kemp and Adam London offered on 2024-11-09 to take the company private in a deal that would value the company at nearly $30,000,000.
Astra Space canceled a quarterly earnings call that was scheduled for 2024-11-13 following the founders’ take-private offer.
Two founders of Astra Space, Chris Kemp and Adam London, offered to take Astra Space private for nearly $30,000,000.
The proposed transaction at $1.50 per share would value Astra Space at nearly $30,000,000.
Astra Space signed a non-binding term sheet with JMCM Holdings LLC on 2023-10-23 for JMCM to be the lead investor in a loan of up to $25,000,000.
Astra Space shares fell nearly 19% in aftermarket trading on 2023-11-03.
Astra Space secured a $12,500,000 loan in August from an unnamed institutional investor.