Duyuru • Jul 18
Chris Kemp and Adam London completed the acquisition of the remaining 66.4% stake in Astra Space, Inc. (NasdaqCM:ASTR). Chris Kemp and Adam London submitted a non-binding proposal to acquire remaining 66.4% stake in Astra Space, Inc. (NasdaqCM:ASTR) for $40.6 million on November 7, 2023. Under the proposal, Chris Kemp, Astra’s co-founder, chief executive officer and chairman and Adam London, Astra’s co-founder, chief technology officer and director are offering to acquire all of the outstanding common stock of Astra Space not currently owned by Kemp and London, for an indicative purchase price of $1.50 per share in cash. Kemp and London are the sole holders of all outstanding shares of Class B common stock. On February 24, 2024, Chris Kemp and Adam London submitted a revised proposal to acquire remaining 66.4% stake in Astra Space, Inc. at an offer price of $0.50 per share in cash for a total consideration of $13.5 million. Chris Kemp and Adam London entered into a definitive merger agreement to acquire remaining 66.4% stake in Astra Space, Inc. on March 7, 2024. Chris Kemp and Adam London have arranged equity and rollover commitments for the amounts necessary to consummate the transaction. In the event that this agreement is terminated by Astra, the company shall pay or cause to be paid the company termination fee of $0.25 million to parent.
The proposal is non-binding and is contingent on final approval of the transaction by the Special Committee of the Astra Space’s Board, satisfactory conclusion of due diligence, entering into a mutually acceptable definitive transaction agreement, and the receipt of a waiver of section 203 of the Delaware General Corporation Law. The revised proposal is non-binding and is contingent on $20 million of cash on the balance sheet at closing of the transaction, final approval of the transaction by the Special Committee of the Issuer’s Board, execution of definitive financing arrangements with requisite investors, and entering into a mutually acceptable definitive transaction agreements. The Special Committee of the Board of Directors of Astra Space determined that the proposed transaction is in the best interests of Astra and unanimously recommended that the Astra Space Board approve the transaction. Acting upon the recommendation of the Special Committee, the Astra Space Board approved the transaction. The transaction has been approved by the written consent of the holders of the requisite number of shares of Astra’s common stock, such that no additional stockholder approval is required. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
Freshfields Bruckhaus Deringer and Pillsbury Winthrop Shaw Pittman LLP as legal counsel and Moelis & Company LLC acted as financial advisor to Astra Space. Houlihan Lokey acted as financial advisor and fairness opinion provider to Special Committee of Astra. Houlihan Lokey became entitled to a fee of $375,000 (the “Initial Fee”) upon its retention by the Special Committee, $250,000 upon the 30-day anniversary of the receipt by the Company of an acquisition proposal from the Specified Stockholders, and $500,000 (the “Opinion Fee”) upon the rendering of its opinion to the Special Committee. Houlihan Lokey is also entitled to a fee of $3.0 million upon the closing of the Merger. Continental Stock Transfer & Trust Company acted as transfer agent to Astra.
Chris Kemp and Adam London completed the acquisition of the remaining 66.4% stake in Astra Space, Inc. (NasdaqCM:ASTR) on July 18, 2024. Duyuru • Jun 28
Astra Space, Inc.(NasdaqCM:ASTR) dropped from S&P TMI Index Astra Space, Inc.(NasdaqCM:ASTR) dropped from S&P TMI Index Duyuru • May 25
Astra Space, Inc. Receives A Deficiency Notice from Nasdaq On May 22, 2024, Astra Space, Inc. (Astra") received a deficiency notice from Nasdaq indicating that, because Astra did not timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the Form 10-Q") with the Securities and Exchange Commission (the SEC"), Astra is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the Rule"), which requires Nasdaq-listed companies to timely file all required periodic financial reports with the SEC. As previously reported by Astra on its Notification of Late Filing on Form 12b-25, filed with the SEC on May 14, 2024, Astra was unable to file its Form 10-Q without unreasonable effort or expense by the prescribed due date for such filing. The notice has no immediate effect on the listing of Astra's Class A common stock. The notice provides that Astra has until July 22, 2024, to submit to Nasdaq a plan to regain compliance with the Rule. If Nasdaq accepts the plan, Nasdaq may grant Astra an exception of up to 180 calendar days from the due date of the Form 10-Q, or until November 18, 2024, to regain compliance. If Astra fails to regain compliance prior to the expiration of any such exception period or if Nasdaq does not accept the plan of compliance, then Nasdaq will give notice that Astra's Class A common stock is subject to delisting and Astra will be able to appeal that delisting before a Nasdaq hearings panel. As previously disclosed on Astra's Current Reports on Form 8-K filed with the SEC on April 19, 2024 and April 26, 2024, respectively, Astra is also not currently in compliance with Nasdaq Listing Rules 5450(a)(1) (the Minimum Bid Price Requirement") and 5550(b)(1) (the Minimum Stockholders' Equity Requirement"). There can be no assurance that Nasdaq will accept such plan or grant an exception period, that any hearing would be successful or that Astra will be able to regain compliance with the Rule, the Minimum Bid Price Requirement or the Minimum Stockholders' Equity Requirement within the deadline or any exception period that may be granted, or maintain compliance with the other continued listing requirements set in the Nasdaq Listing Rules. As previously disclosed in Astra's Current Report on Form 8-K filed with the SEC on March 12, 2024, Astra entered into that certain Agreement and Plan of Merger with Apogee Parent Inc. (Parent") and Apogee Merger Sub Inc. (Merger Sub") on March 7, 2024, pursuant to which Merger Sub will be merged with and into Astra (the Merger"), with Astra being the surviving entity of such Merger and a wholly-owned direct subsidiary of Parent. If the Merger is consummated before July 22, 2024, Astra's Class A common stock will be delisted from the Nasdaq Capital Market in connection with the consummation of the Merger. Duyuru • May 16
Astra Space, Inc. announced delayed 10-Q filing On 05/14/2024, Astra Space, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Apr 22
Astra Space, Inc. Receives A Deficiency Notice from Nasdaq On April 17, 2024, Astra Space, Inc. ("Astra") received a deficiency notice from NASDAQ that Astra is not in compliance with Rule 5450(a)(1) of the listing requirements because its per share closing bid price has been below $1.00 for the last thirty consecutive business days. This notice has no immediate effect on the listing of Astra's Class A common stock. Pursuant to Rule 5810(c)(3)(A), Astra has 180 calendar days, or until October 14, 2024, to regain compliance with the minimum bid price requirement set in Rule 5450(a)(1) (the Minimum Bid Price Requirement"). NASDAQ's notice stated that if, at any time before October 14, 2024, the per share closing bid price of Astra's Class A common stock is at least $1.00 for a minimum of ten consecutive business days, NASDAQ's staff will provide Astra written notice that it complies with the Minimum Bid Price Requirement. Astra intends to monitor the per share closing bid price of its Class A common stock and consider available options if its Class A common stock does not trade at a level likely to result in the Company regaining compliance with Minimum Bid Price Requirement by October 14, 2024. If Astra does not regain compliance with the Minimum Bid Price Requirement by October 14, 2024, Astra may be eligible for an additional 180 calendar day compliance period. To qualify, Astra would need to, among other things, meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for NASDAQ, with the exception of the Minimum Bid Price Requirement, and provide written notice to NASDAQ that it intends to cure the deficiency during the second compliance period. If NASDAQ concludes that Astra will not be able to cure the deficiency during the second compliance period, or Astra does not make the required representations, then NASDAQ will give notice that Astra's Class A common stock is subject to delisting and Astra will be able to appeal that delisting before a NASDAQ hearings panel. There can be no assurance that Astra will regain compliance with the Minimum Bid Price Requirement or that it will otherwise remain in compliance with the other listing requirements for NASDAQ. As previously disclosed in Astra's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 12, 2024, Astra entered into that certain Agreement and Plan of Merger with Apogee Parent Inc. (Parent") and Apogee Merger Sub Inc. (Merger Sub") on March 7, 2024, pursuant to which Merger Sub will be merged with and into Astra (the Merger"), with Astra being the surviving entity of such Merger and a wholly-owned direct subsidiary of Parent. If the Merger is consummated before October 14, 2024, Astra's Class A common stock will be delisted from the Nasdaq Capital Market in connection with the consummation of the Merger. Duyuru • Mar 30
Astra Space, Inc. announced delayed annual 10-K filing On 03/29/2024, Astra Space, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Nov 17
Astra Space, Inc. announced delayed 10-Q filing On 11/15/2023, Astra Space, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Nov 12
Astra Space, Inc. Announces Board Changes On November 8, 2023, Scott Stanford resigned as the Lead Independent Director of Astra Space, Inc. (“ Astra” or the “ Company”) and also resigned as a member of the Company’s Compensation Committee. Mr. Stanford’s resignation followed the participation of SherpaVentures Fund II, LP (“ Sherpa”) in the Initial Financing previously disclosed in the Company’s Current Report on Form 8-K, dated November 6, 2023, and filed with the Securities Exchange Commission on November 8, 2023. Mr. Stanford remains a member of the Board of Directors. Also, on November 8, 2023, the Company’s Board of Directors appointed Michael Lehman to serve as the Lead Independent Director. Duyuru • Nov 11
Chris Kemp and Adam London submitted a non-binding proposal to acquire an unknown remaining stock in Astra Space, Inc. (NasdaqCM:ASTR). Chris Kemp and Adam London submitted a non-binding proposal to acquire an unknown remaining stock in Astra Space, Inc. (NasdaqCM:ASTR) on November 8, 2023. As part of consideration, Chris Kemp and Adam London agreed to pay $1.50 per share, payable in cash for each share of Astra Space. The proposal is non-binding and is contingent on final approval of the transaction by the Special Committee of the Astra Space’s Board, satisfactory conclusion of due diligence, entering into a mutually acceptable definitive transaction agreement, and the receipt of a waiver of section 203 of the Delaware General Corporation Law. Freshfields Bruckhaus Deringer and Pillsbury Winthrop Shaw Pittman LLP as legal counsel and Houlihan Lokey Moelis & Company LLC acted as financial advisor to Astra Space. Duyuru • Oct 20
Astra Space, Inc. to Report Q3, 2023 Results on Nov 13, 2023 Astra Space, Inc. announced that they will report Q3, 2023 results After-Market on Nov 13, 2023 Duyuru • Oct 12
Astra Space Reportedly Exploring Options, Including Asset Sales Astra Space, Inc. (NasdaqCM:ASTR) is considering selling a 51% stake in its inspace propulsion business, among other strategic sale options, according to people familiar with the matter. The company would seek to value that unit at more than $100 million in that scenario, one of the people added. A second person said Astra is weighing the potential sale of various parts of its business, including its equipment, parts of its rocket factory and its in-space propulsion division. Duyuru • Sep 29
Astra Cures Bid Price Deficiency and Regains Compliance with Nasdaq Listing Standards Astra Space, Inc. announced that it has received notice from the Nasdaq Capital Market ('Nasdaq') on September 28, 2023, that the company has regained compliance with Nasdaq’s minimum bid price requirement. Duyuru • Aug 05
Astra Space, Inc. Announces Reduction of Workforce Astra Space, Inc. announced a strategic reallocation of its workforce from its Launch Services organization to its Astra Spacecraft Engines™ business to support its growing customer base and order backlog of its spacecraft engines. In addition to this reallocation, the company has also reduced its overall workforce by approximately 25% since the beginning of the quarter, including a reduction of approximately 70 employees that was announced on August 4, 2023. The affected employees primarily supported the Company’s launch, SG&A, and shared services functions. Duyuru • Jul 22
Astra Space, Inc. to Report Q2, 2023 Results on Aug 14, 2023 Astra Space, Inc. announced that they will report Q2, 2023 results After-Market on Aug 14, 2023 Duyuru • Jul 12
Astra to Execute Reverse Stock Split to Save the Company from a Nasdaq Delisting Astra Space, Inc. announced that it would execute a reverse stock split at a 1-to-15 ratio, a move that could save the company from a NASDAQ delisting. Major Estimate Revision • Feb 03
Consensus revenue estimates increase by 35% The consensus outlook for revenues in fiscal year 2022 has improved. 2022 revenue forecast increased from US$9.28m to US$12.5m. Forecast losses expected to reduce from -US$1.29 to -US$1.25 per share. Aerospace & Defense industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$1.15 to US$0.65. Share price rose 8.4% to US$0.67 over the past week. Duyuru • Jan 28
Astra Space, Inc. Appoints Julie Cullivan to the Board of Directors and to Astra’s Audit Committee Astra Space, Inc. announced the appointment of Julie Cullivan to the Astra Board of Directors effective February 1, 2023. Ms Cullivan will also join Astra’s Audit Committee. Ms. Cullivan has held executive positions at FireEye, Autodesk, Forescout, McAfee, EMC, and Oracle. She is a recognized leader in cyber security and compliance and a sought-after speaker on topics including security as a boardroom imperative, women in security, innovation, and building high impact teams. Ms. Cullivan has a B.S. degree in Finance from Santa Clara University and brings extensive business, information technology and cyber security expertise to the Astra Board of Directors. In addition to Astra, she serves on the board of directors for Axon Enterprise, Inc. and HeartFlow, Inc. Recent Insider Transactions • Dec 23
Founder recently bought US$118k worth of stock On the 16th of December, Chris Kemp bought around 250k shares on-market at roughly US$0.47 per share. This transaction amounted to 91% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Chris has been a buyer over the last 12 months, purchasing a net total of US$243k worth in shares. Major Estimate Revision • Dec 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$8.03m to US$13.4m. EPS estimate fell from -US$1.00 to -US$1.52 per share. Aerospace & Defense industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$1.35 to US$1.15. Share price was steady at US$0.44 over the past week. Price Target Changed • Nov 16
Price target decreased to US$1.35 Down from US$3.35, the current price target is an average from 2 analysts. New target price is 120% above last closing price of US$0.61. Stock is down 94% over the past year. The company is forecast to post a net loss per share of US$1.00 next year compared to a net loss per share of US$7.82 last year. Duyuru • Nov 09
Astra Space, Inc. Reports Impairment Charges for the Third Quarter Ended September 30, 2022 Astra Space, Inc. reported impairment charges for the third quarter ended September 30, 2022. For the quarter, the company reported goodwill impairment of $58,251,000. Duyuru • Oct 26
Astra Space, Inc. to Report Q3, 2022 Results on Nov 08, 2022 Astra Space, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022 Duyuru • Oct 10
Astra Space Receives Deficiency Notice from NASDAQ Regarding Minimum Bid Price Requirement On October 6, 2022, Astra Space Operations, Inc. (Astra Space, Inc.) (‘Astra’) received a deficiency notice from NASDAQ that Astra is not in compliance with Rule 5450(a)(1) of the listing requirements because its per share closing bid price has been below $1.00 for the last thirty consecutive business days. This notice has no immediate effect on the listing of Astra’s Class A common stock. Pursuant to Rule 5810(c)(3)(A), Astra has 180 calendar days, or until April 4, 2023, to regain compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) (the ‘Minimum Bid Price Requirement’). NASDAQ’s notice stated that if, at any time before April 4, 2023, the per share closing bid price of Astra’s Class A common stock is at least $1.00 for a minimum of ten consecutive business days, NASDAQ’s staff will provide Astra written notice that it complies with the Minimum Bid Price Requirement. Astra intends to monitor the per share closing bid price of its Class A common stock and consider available options if its Class A common stock does not trade at a level likely to result in the Company regaining compliance with Minimum Bid Price Requirement by April 4, 2023. If Astra does not regain compliance with the Minimum Bid Price Requirement by April 4, 2023, Astra may be eligible for an additional 180 calendar day compliance period. To qualify, Astra would need to, among other things, meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for NASDAQ, with the exception of the Minimum Bid Price Requirement, and provide written notice to NASDAQ that it intends to cure the deficiency during the second compliance period. If NASDAQ concludes that Astra will not be able to cure the deficiency during the second compliance period, or Astra does not make the required representations, then NASDAQ will give notice that Astra’s Class A common stock is subject to delisting and Astra will be able to appeal that delisting before a NASDAQ hearings panel. There can be no assurance that Astra will regain compliance with the Minimum Bid Price Requirement or that it will otherwise remain in compliance with the other listing requirements for NASDAQ. Duyuru • Oct 01
Astra Space Operations, Inc. Appoints Axel Martinez as Chief Financial Officer, Effective on November 2022 Astra Space Operations, Inc. announced the appointment of Axel Martinez to Chief Financial Officer, effective the day after the filing of quarterly report in November 2022. In his most recent roles, Martinez served as Chief Financial Officer at Virgin Hyperloop One and Veev Group Inc. – two growth technology companies. Axel started his technology career at Google where he spent 10 years in finance roles, including Head of Capital Markets where he managed more than $40 billion of capital. Axel also served as VP & Treasurer of Uber where he helped the Company scale into more than 60 countries. Previously, Axel worked at Merrill Lynch and the Chase Manhattan Bank as an investment banker. Axel holds a B.A. in Economics and Political Science from Columbia University and an M.B.A. from Harvard Business School. Kelyn Brannon will transition her responsibilities and remain CFO through the effective date of Martinez’ appointment. Major Estimate Revision • Sep 14
Consensus revenue estimates fall by 35% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$12.4m to US$8.03m. Forecast losses increased from -US$0.98 to -US$1.00 per share. Aerospace & Defense industry in the US expected to see average net income growth of 26% next year. Consensus price target down from US$3.35 to US$1.35. Share price rose 2.6% to US$0.78 over the past week. Seeking Alpha • Aug 26
Astra Space: A Former High-Flier, Now An Earnings Loser, With A Bearish Chart Summary
The Industrial sector is on the verge of a bullish breakout versus the S&P 500.
Aerospace & Defense has been one of the leading industries in 2022.
Astra Space, however, is a former meme stock that is now in a defined bearish trend with big resistance on the chart, not to mention negative earnings.
The Industrials sector (XLI) is one to watch as the second half of 2022 presses on. Bank of America Global Research notes that the sector is on the cusp of a relative breakout versus the S&P 500. This cyclical-value area is often seen as a bellwether for the economy and broader market.
Hot Sector: Industrials?
BofA Global Research
Helping to thrust Industrials higher is the Aerospace & Defense industry. Now that we are at the six-month anniversary of the unfortunate Russia/Ukraine conflict, traders must still look at price action for clues on where the markets are headed. Year-to-date, defense equities are solidly in the green. The big guys - Raytheon (RTX), Lockheed Martin (LMT), and Northrop Grumman (NOC) - are in bull markets. But one small-cap stock is not faring so well.
Hot Industry: Aerospace & Defense
Finviz
According to BofA Global Research, Astra Space (ASTR) is a launch service provider focused on meeting the demands of small satellite manufacturers with payloads less than 600 kg. ASTR offers access to space via low-cost rockets that are built in-house, intending to expand into satellite manufacturing and in-orbit servicing. The company now has no rockets scheduled to take flight through much of next year.
The California-based $262 million market cap Aerospace & Defense industry stock within the Industrials sector has negative earnings over the last four quarters and does not pay a dividend, according to The Wall Street Journal. Bears should take note of ASTR's high 21.7% short float - a sudden positive news catalyst could spark a big short-covering rally.
Analysts at BofA (and the Bloomberg consensus) are not sanguine on ASTR. Earnings are expected to continue in negative territory, with no signs of a dividend being announced. Moreover, free cash flow is anticipated to be steeply negative all the way through 2024. The fundamental and valuation pictures show a potentially fast burn. Not surprisingly, Astra Space missed EPS estimates badly back on August 4.
Astra Space Earnings, Valuation, Free Cash Flow Forecasts
BofA Global Research
Looking ahead, Wall Street Horizon's corporate event calendar shows no major bullish catalysts in the near future. The next earnings report is unconfirmed for Thursday, November 3, AMC.
ASTR Corporate Event Calendar
Wall Street Horizon
The Technical Take
Is there any hope for the bulls on the charts? It doesn't look like it. After peaking above $22 during the crescendo of speculative meme stock mania of early 2021, shares are down 96% as equity holders have been nearly wiped out. The stock made new lows this past week, so there is no significant support down here under $1. Major Estimate Revision • Aug 24
Consensus revenue estimates fall by 45% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$19.9m to US$10.9m. Forecast losses increased from -US$0.91 to -US$0.95 per share. Aerospace & Defense industry in the US expected to see average net income growth of 26% next year. Consensus price target down from US$4.35 to US$3.35. Share price fell 30% to US$0.93 over the past week. Recent Insider Transactions • Aug 24
Founder recently bought US$125k worth of stock On the 19th of August, Chris Kemp bought around 100k shares on-market at roughly US$1.25 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$134k. This was Chris' only on-market trade for the last 12 months. Recent Insider Transactions • Aug 12
Independent Director recently bought US$134k worth of stock On the 9th of August, Michael Lehman bought around 100k shares on-market at roughly US$1.34 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Duyuru • Aug 04
Astra Space, Inc. announced that it expects to receive $100 million in funding from B. Riley Principal Capital II, LLC Astra Space, Inc. announced that it has entered into a common stock purchase agreement with B. Riley Principal Capital II, LLC for a private placement of series A common shares having a face value of $0.0001 per share for a gross proceeds of $100,000,000 on August 2, 2022. The company will issue securities pursuant to the exemption provided under provisions of Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated by the Commission under the Securities Act. The company will pay $125,000 as reimbursement for the reasonable fees and disbursements of the Investor’s legal counsel incurred by the Investor prior to the Closing. Duyuru • Jul 23
Astra Space, Inc. to Report Q2, 2022 Results on Aug 04, 2022 Astra Space, Inc. announced that they will report Q2, 2022 results After-Market on Aug 04, 2022 Price Target Changed • Apr 27
Price target decreased to US$5.00 Down from US$5.50, the current price target is provided by 1 analyst. New target price is 55% above last closing price of US$3.23. Stock is down 69% over the past year. The company is forecast to post a net loss per share of US$0.85 next year compared to a net loss per share of US$7.82 last year. Major Estimate Revision • Apr 27
Consensus revenue estimates fall by 23% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$26.6m to US$20.5m. Forecast losses increased from -US$0.72 to -US$0.85 per share. Aerospace & Defense industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$5.50 to US$5.00. Share price fell 10% to US$3.23 over the past week. Major Estimate Revision • Apr 21
Consensus revenue estimates fall by 23% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$26.6m to US$20.5m. Forecast losses increased from -US$0.72 to -US$0.85 per share. Aerospace & Defense industry in the US expected to see average net income growth of 15% next year. Consensus price target down from US$5.50 to US$5.00. Share price fell 3.7% to US$3.60 over the past week. Breakeven Date Change • Apr 01
No longer forecast to breakeven The 2 analysts covering Astra Space no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$48.2m in 2024. New consensus forecast suggests the company will make a loss of US$92.9m in 2024. Duyuru • Mar 06
Astra Space, Inc. to Report Q4, 2021 Results on Mar 17, 2022 Astra Space, Inc. announced that they will report Q4, 2021 results After-Market on Mar 17, 2022 Duyuru • Feb 10
Rosen Law Firm Files Securities Class Action Lawsuit Against Astra Space, Inc. f/k/a Holicity, Inc Rosen Law Firm announced it has filed a class action lawsuit on behalf of purchasers of the securities of Astra Space, Inc. f/k/a Holicity, Inc. between February 2, 2021 and December 29, 2021, both dates inclusive. The lawsuit seeks to recover damages for Astra investors under the federal securities laws. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) Astra cannot launch “anywhere”; (2) Astra significantly overstated its addressable market; (3) Astra overstated the effectiveness of its designs and reliability; (4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. Duyuru • Feb 03
The Federal Aviation Administration Informs Astra Space, Inc., It Expects to Issue A Launch License to Astra by February 4, 2022 The Federal Aviation Administration has informed Astra Space, Inc. that it expects to issue a launch license to Astra by February 4, 2022. The launch license will be first license the FAA has issued under Part 450, which streamlines the requirements for obtaining launch licenses. Astra’s new launch license was issued in just three months and it is expected to, with planned modifications, make it easier for Astra to launch at a higher frequency out of more launch sites in the United States. The launch license authorizes Astra’s launch from Cape Canaveral, Florida, for National Aeronautics Space Administration, which was previously announced on December 6, 2021. Breakeven Date Change • Jan 01
Forecast to breakeven in 2024 The 2 analysts covering Astra Space expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$48.2m in 2024. Average annual earnings growth of 60% is required to achieve expected profit on schedule. Duyuru • Nov 24
Astra Space, Inc. Completes Its First Commercial Orbital Launch for the United States Space Force Astra Space, Inc. successfully completed its first commercial orbital launch for the United States Space Force late Friday night, November 19, 2021, PST. The launch, STP-27AD2, was conducted from Astra’s Kodiak Spaceport, located at the Pacific Spaceport Complex in Kodiak, Alaska. Astra's launch system successfully demonstrated the orbital placement of a test payload to an inclination of 86.0 degrees at an altitude of 500 km. The payload achieved an orbital velocity of 7.61 kilometers per second in 8 minutes and 47 seconds. The United States Space Force contracted this launch through a Defense Innovation Unit Other Transaction Agreement. Duyuru • Jul 02
Astra Space, Inc. announced that it has received $200 million in funding On June 30, 2021, Astra Space, Inc. closed the transaction. The company announced that the transaction has been approved by shareholders at its special meeting of stockholders.