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Astra’s 2023 revenue came exclusively from its space products unit that produces electric propulsion systems called Astra Spacecraft Engines.
Astra has raised $13,900,000 since the end of December according to its Form 10-K filing.
Astra announced plans on 2024-03-07 to go private in a deal with the company’s founders.
Astra had $9,400,000 in revenue in 2022 and a net loss of $411,400,000.
An 2024-04-08 filing included financial projections developed in February that projected nearly $5,000,000 in revenue for Astra in the first quarter of 2024.
An 2024-04-08 SEC filing describing Astra’s plans to go private provided details about the company’s bankruptcy considerations.
The 2024-04-08 projections included an assumption that Astra would raise $90,000,000 in the first quarter of 2024.
Astra had nearly $3,900,000 in revenue for 2023 and a net loss of $178,400,000.
The Astra board again considered a bankruptcy filing at a 2024-02-22 meeting while management recommended furloughing employees other than those needed for bankruptcy planning no later than 2024-02-26.
The deal to take Astra private was approved and announced on 2024-03-07 but has not yet closed.
The ASTRA-ETHERA electrodynamic tether uses the plasma surrounding Earth and Earth’s magnetic field to induce a force on the tether and reduce spacecraft orbital lifetimes from decades to a few years.
The closing price of Astra’s Class A common stock was $0.86 per share on 2024-03-06.
Astra Space shares closed at $0.86 on 2024-03-06 before the take-private transaction was disclosed.
Kemp and London originally offered to take Astra Space private in November 2023 at $1.50 per share.
Kemp and London planned for the financing to provide a minimum of $20,000,000 of cash to finance Astra Space’s operations.
Astra Space shares closed at $0.584 after the company’s take-private transaction was disclosed.
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.
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 accepted a revised proposal from founders Chris Kemp and Adam London on 2024-03-07 to take the company private at $0.50 per share.
ASTRA-ETHERA’s deployable tether uses the ionospheric plasma and Earth’s magnetic field to induce a force on the tether and reduce spacecraft orbital lifetimes from decades to a few years.