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Astra Space - Financial Problems [updated]


Waspie_Dwarf

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Astra, low on cash, defaults on loan

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November 4, 2023

Dwindling cash reserves caused launch vehicle and spacecraft propulsion company Astra Space to default on a loan at the end of October, adding to doubts about the company’s future.

In a filing with the U.S. Securities and Exchange Commission after the markets closed Nov. 3, Astra disclosed that it had triggered a default on a $12.5 million loan it secured in August from an unnamed institutional investor when its cash on hand fell below minimums required by the loan agreement.

Read More: ➡️ SpaceNews

 

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Astra secures interim financing deal

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November 6, 2023

Launch vehicle and spacecraft propulsion company Astra Space said Nov. 6 that it has secured interim financing from two investors that gives the company through the end of next week to find additional funding.

In a statement issued after the close of trading, Astra said that JMCM Holdings LLC and Sherpa Venture Funds II, LLP, which it described as affiliates of two early investors in Astra, agreed to provide $13.4 million in “initial financing” as part of a non-binding term sheet Astra announced Oct. 23 that sought to raise $15 million to $25 million.

Read More: ➡️ SpaceNews

 

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Astra founders offer to take company private

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November 9, 2023

Two founders of Astra Space have offered to take the launch vehicle and spacecraft propulsion company private for nearly $30 million.

In a filing with the U.S. Securities and Exchange Commission Nov. 9, the company said it received a non-binding offer from Chris Kemp and Adam London, chief executive and chief technology officer respectively of Astra, to take the company private at $1.50 per share. That would be more than double the $0.74 share price the company had at the close of trading Nov. 8. The deal would value the company at nearly $30 million.

Read More: ➡️ SpaceNews

 

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Investors grant Astra extension on loan

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Investors in launch vehicle and spacecraft propulsion company Astra Space have given the company a four-day extension on a loan to provide the company more time to line up a longer-term funding deal.

In a filing with the U.S. Securities and Exchange Commission late Nov. 17, Astra announced that JMCM Holdings LLC and SherpaVentures Fund II, LLP has agreed to extend the maturity date of a loan, provided earlier this month, by four days to Nov. 21.

Read More: ➡️ SpaceNews

 

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  • The title was changed to Astra Space - Financial Problems [updated]

Astra secures $2.7 million in additional financing

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Launch vehicle and spacecraft propulsion company Astra Space raised $2.7 million from investors as it continues to work on a long-term funding deal that could take the company private.

In a filing with the U.S. Securities and Exchange Commission after the markets closed Nov. 24, Astra said it completed a “subsequent financing” with two existing investors, JMCM Holdings LLC and Sherpa Ventures Fund II, as well as company co-founders Chris Kemp and Adam London.

Read More: ➡️ SpaceNews

 

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