Astra’s founders have proposed taking the company private at a value of $30 million, according to a securities filing on Thursday. Chris Kemp, chairman and CEO, and Adam London, chief technology officer, presented a proposal to acquire all outstanding stock at $1.50 a share. Astra’s rocket launching business has been on hold since a June …
Astra, a struggling space company, recently revealed in a securities filing that it defaulted on a debt agreement and may struggle to raise necessary funds. Last month, Astra failed twice to meet the minimum cash reserve requirements tied to a $12.5 million note issuance to New Jersey’s High Trail Capital, an investment group. The company …
An Astra Spacecraft Engine during testing. Astra Struggling space company Astra is implementing a 25% reduction in its workforce, as announced on Friday. The company aims to restructure and give more emphasis to its spacecraft engine business, which will result in a delay in the development of its small rocket. Astra is presently cutting approximately …
The Vulcan rocket for the Cert-1 mission is currently undergoing testing at SLC-41 in Cape Canaveral, Florida. This important update comes from CNBC’s Investing in Space newsletter, which provides a comprehensive view of the business of space exploration and privatization. Delivered directly to your inbox, CNBC’s Michael Sheetz curates the latest news, investor updates, and …
Astra CEO Chris Kemp delivers a speech at the company’s headquarters during its Spacetech Day on May 12, 2022. Image credit: Brady Kenniston / Astra Astra, a spacecraft engine manufacturer and small rocket builder, has announced its plans to conduct a reverse stock split at a ratio of 1 to 15, according to a securities …
A “sale pending” sign has been placed in front of a house that is up for sale in Greenbrae, California. This sign indicates that a buyer has made an offer and the sale is currently in progress. CNBC’s Investing in Space newsletter provides valuable insights into the business of space exploration and privatization. Delivered straight …