Astra Space has completed its take-private transaction. As per the agreement announced on March 7, 2024, Apogee Parent, Inc., an entity formed by Astra’s co-founder and CEO Chris Kemp and co-founder and CTO Dr Adam London, acquired all outstanding shares of the company’s Class A common stock not already owned by them for $0.50 per share in cash.
Following this acquisition, Astra’s Class A Shares stopped trading on the Nasdaq Capital Market on July 18, 2024, and the company plans to file with the US Securities and Exchange Commission (SEC) to suspend its periodic reporting obligations and terminate the registration of the Class A Shares.
Previously, Astra received deficiency notices from Nasdaq in April 2024 for not meeting the minimum bid price and stockholders’ equity listing requirements, with shares trading below $1.00 for thirty consecutive business days and equity reported below $2.5m in their annual report for the year ending December 31, 2023.
Add Comment