Astra’s shares closed up 4.5% to $12.90 July 1 after the launch vehicle developer’s first day on the Nasdaq stock exchange, which raised nearly $500 million ahead of its first commercial mission this summer.
Small launch vehicle company Astra will begin trading on the Nasdaq exchange July 1 after completing its merger with a special-purpose acquisition company (SPAC).
Launch vehicle developer Astra is acquiring Apollo Fusion, a company developing electric propulsion systems for spacecraft, as part of its effort to create vertically integrated space systems.
Launch executives said June 2 that demand for satellite launches likely will surge despite assertions to the contrary.
The SPAC boom has reshaped the space startup sector. Until recently, there was plenty of capital flowing into startups but few exits. SPACs offer, in some sense, the best of both options: an influx of capital associated with going public, but without the overhead of a traditional IPO.
A NASA small launch vehicle competition attracted bids from 10 companies, but half of them were effectively disqualified because of deficiencies or other problems.
Small launch vehicle developer Astra Space fell just short of reaching orbit on its second launch attempt Dec. 15, but the company is “beyond ecstatic” with the performance of the rocket.
Fred Kennedy, former Space Development Agency director, is the new president of Momentus, a Silicon Valley company preparing to transport satellites in orbit.
As Astra prepares for another launch attempt of its small launch vehicle, the company is facing a lawsuit from another company with a similar name.