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Astra is the space industry’s first SPAC bust of 2024
Astra Space, the launch company that went public in 2021 at a $2.1 billion valuation, is going private again after months of burning cash and failing to
Astra Space, the launch company that went public in 2021 at a $2.1 billion valuation, is going private again after months of burning cash and failing to secure alternate investment. The company announced Thursday that its board had accepted an offer from its CEO, Chris Kemp, and its CTO, Adam London, to purchase the remaining Astra stock at a price of $0.50 per share. It is a precipitous fall for the company, which raised nearly $500 million from investors on the premise of an ultra-cheap launch vehicle that could be scaled to execute hundreds of missions per year.
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