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Astra Space | SC 13D/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-Chris Kemp(9.3%),Chris Kemp Living Trust dated February 10, 2021(0%)

SEC announcement ·  Mar 11 21:58
Summary by Moomoo AI
On March 7, 2024, Astra Space, Inc. entered into a significant merger agreement, which will result in the company becoming a wholly owned subsidiary of Apogee Parent Inc. The merger agreement stipulates that each share of Astra Space's Class A Common Stock, excluding Rollover Shares, will be converted into a cash entitlement of $0.50. Prior to the merger's effective time, all Class B Common Stock held by specified stockholders will be converted into Class A Common Stock. In addition, convertible notes and warrants will be converted into shares of Series A preferred stock of the parent company. The merger is subject to customary closing conditions, including stockholder approval and the absence of any law or judgment preventing the merger. Chris Kemp...Show More
On March 7, 2024, Astra Space, Inc. entered into a significant merger agreement, which will result in the company becoming a wholly owned subsidiary of Apogee Parent Inc. The merger agreement stipulates that each share of Astra Space's Class A Common Stock, excluding Rollover Shares, will be converted into a cash entitlement of $0.50. Prior to the merger's effective time, all Class B Common Stock held by specified stockholders will be converted into Class A Common Stock. In addition, convertible notes and warrants will be converted into shares of Series A preferred stock of the parent company. The merger is subject to customary closing conditions, including stockholder approval and the absence of any law or judgment preventing the merger. Chris Kemp, the reporting person, has committed approximately $28.8 million in equity financing to support the merger, with his personal contribution being $855,099.50. The merger will result in the delisting of Astra Space's Class A Common Stock from the Nasdaq Capital Market. This strategic move follows a series of amendments to Astra Space's senior secured convertible notes and is accompanied by a limited waiver and consent agreement with initial investors. The merger agreement is designed to provide investors with information regarding its terms but is not intended to provide factual information about the company or to establish the state of facts or condition of Astra Space or its subsidiaries.

This announcement is a separate document:

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