BERLIN — 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.

Those investors had provided the bridge loan, originally valued at $3.05 million, as part of an interim financing deal announced Nov. 6. The deal, with an overall value of $13.4 million, included buying an earlier loan to the company as well as the purchase of stock warrants.

The bridge loan was described at the time by Astra as giving it “time to raise additional liquidity through various capital raising and cost cutting initiatives and strategic transactions.” The company, running low on cash, defaulted on the earlier loan when its cash reserves fell below levels outlined in the terms of that agreement.

Astra has not finalized any new investment into the company. Astra noted in the SEC filing that it is continuing to negotiate with the investors on a refinancing of the deal and thus agreed to a four-day extension. It added that the value of the bridge loan was now $5.5 million after the company exercised a “delayed draw term” provision in the deal valued at $2.5 million.

Astra founders Chris Kemp and Adam London, the chief executive and chief technology officer of the company, respectively, announced Nov. 9 an offer to take the company private in a deal that would value it at nearly $30 million, double the company’s valuation at the time of the announcement. They said they would need to raise between $60 million and $65 million to finance the deal but did not disclose the source of that capital. Neither they nor the company have provided updates on that proposal since then.

That offer prompted Astra to cancel a quarterly earnings call that was scheduled for Nov. 13. The company did release its third quarter financial results Nov. 16, reporting a net loss of $29.7 million and $256,000 of revenue.

The company added it delivered eight of its Astra Spacecraft Engine electric propulsion systems, with revenue being recognized in the fourth quarter.  It also said it signed contracts with a total value of $11.7 million for those engines, one with a “major non-U.S. defense prime” and the other with an “international commercial space company.” Astra did not disclose the identity of either customer.

Jeff Foust writes about space policy, commercial space, and related topics for SpaceNews. He earned a Ph.D. in planetary sciences from the Massachusetts Institute of Technology and a bachelor’s degree with honors in geophysics and planetary science...