Astra Space to go private
Posted: Sun, Mar 10, 2024, 9:18 AM ET (1318 GMT)
Astra Space has accepted a proposal from its founders to take the company private. The satellite propulsion and launch vehicle company announced Thursday that its board approved a revised proposal from Chris Kemp and Adam London, CEO and CTO respectively, to take the company private at $0.50 per share. The deal is expected to close in the second quarter, after which Astra will no longer be publicly traded but instead owned by "a number of long-term investors" in the company, including Kemp and London. Astra said in a regulatory filing last week that, if that deal fell through, its only option was a Chapter 7 bankruptcy liquidation.
Astra Space has accepted a proposal from its founders to take the company private. The satellite propulsion and launch vehicle company announced Thursday that its board approved a revised proposal from Chris Kemp and Adam London, CEO and CTO respectively, to take the company private at $0.50 per share. The deal is expected to close in the second quarter, after which Astra will no longer be publicly traded but instead owned by "a number of long-term investors" in the company, including Kemp and London. Astra said in a regulatory filing last week that, if that deal fell through, its only option was a Chapter 7 bankruptcy liquidation.
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