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Astra Space | 8-K: Astra Space, Inc. Closed a Subsequent Financing with Rbh Ventures Astra Spv, Llc

SEC announcement ·  Apr 26 16:36
Summary by Moomoo AI
On April 22, 2024, Astra Space, Inc. completed a Subsequent Financing round, securing $400,000 in aggregate principal amount of 12.0% Senior Secured Convertible Notes due 2025 from RBH Ventures Astra SPV, LLC. This financing follows a series of amendments to the original Securities Purchase Agreement dated August 4, 2023, and is part of a larger financing strategy that could see the issuance of additional convertible notes up to $18,289,781, subject to certain conditions. The net proceeds from this round, after estimated offering expenses, amounted to approximately $390,000. The convertible notes are set to mature on November 15, 2025, with the possibility of conversion into Class A common stock, subject to stockholder approval and Nasdaq listing rules. Concurrently, Astra Space received a deficiency notice from Nasdaq for not meeting the minimum stockholders...Show More
On April 22, 2024, Astra Space, Inc. completed a Subsequent Financing round, securing $400,000 in aggregate principal amount of 12.0% Senior Secured Convertible Notes due 2025 from RBH Ventures Astra SPV, LLC. This financing follows a series of amendments to the original Securities Purchase Agreement dated August 4, 2023, and is part of a larger financing strategy that could see the issuance of additional convertible notes up to $18,289,781, subject to certain conditions. The net proceeds from this round, after estimated offering expenses, amounted to approximately $390,000. The convertible notes are set to mature on November 15, 2025, with the possibility of conversion into Class A common stock, subject to stockholder approval and Nasdaq listing rules. Concurrently, Astra Space received a deficiency notice from Nasdaq for not meeting the minimum stockholders’ equity requirement, with a plan to regain compliance due by June 7, 2024. The company's Class A common stock remains listed on Nasdaq, pending compliance with other listing requirements. This financial activity is disclosed amidst a pending merger with Apogee Parent Inc. and Apogee Merger Sub Inc., which, if completed before June 7, 2024, will result in the delisting of Astra's Class A common stock from Nasdaq.

This announcement is a separate document:

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