share_log

Astra Space | 8-K: Astra Space, Inc. to be Taken Private

SEC announcement ·  Mar 7 15:15
Summary by Moomoo AI
On March 7, 2024, Astra Space, Inc. announced it has entered into an Agreement and Plan of Merger to be taken private at $0.50 per share. The agreement was reached with an entity formed by Astra's co-founder and CEO, Chris Kemp, and co-founder and CTO, Dr. Adam London, along with long-term investors. A special committee of independent directors, advised by independent financial and legal advisors, recommended the transaction, considering Astra's liquidity among other factors. The Board approved the merger, with Kemp, London, and Scott Stanford abstaining. SherpaVentures Fund II, LP, affiliated with Stanford, will contribute its Astra holdings to the Parent in exchange for equity and warrants. The transaction, which has already received approval by written consent from the requisite number of shareholders, is expected to close in Q2 2024. Prior to the announcement, Astra's stock closed at $0.86 per share on March 6, 2024.
On March 7, 2024, Astra Space, Inc. announced it has entered into an Agreement and Plan of Merger to be taken private at $0.50 per share. The agreement was reached with an entity formed by Astra's co-founder and CEO, Chris Kemp, and co-founder and CTO, Dr. Adam London, along with long-term investors. A special committee of independent directors, advised by independent financial and legal advisors, recommended the transaction, considering Astra's liquidity among other factors. The Board approved the merger, with Kemp, London, and Scott Stanford abstaining. SherpaVentures Fund II, LP, affiliated with Stanford, will contribute its Astra holdings to the Parent in exchange for equity and warrants. The transaction, which has already received approval by written consent from the requisite number of shareholders, is expected to close in Q2 2024. Prior to the announcement, Astra's stock closed at $0.86 per share on March 6, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more