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Astra laminitis Chris Kemp and Adam London have propose taking the company private , with the two say they would acquire all the outstanding farm animal themselves , according to a filingwith the U.S. Securities and Exchange Commission Thursday .
Kemp , who is president and CEO , and London , chief technology police officer , offered to purchase the outstanding stemma at $ 1.50 a share . That is a 103 % exchange premium to the closing trading price of $ 0.74 per share . The founding father duet deport their marriage offer to Astra ’s board of director .
From this point , the board will review and consider the marriage proposal and “ go after the trend of action that it believes is in the near interests of all of the Company ’s unaffiliated stockholders . ” It is unclear how long the board has to consider the plan , but the company is on the rule book topay back a life line loanthat will come due on November 17 , so any decision will almost certainly be made before that escort .
Astra went public via a merger with a blank - check company , or SPAC , arguably at the peak of space industriousness hoopla . When the company announce that it would enter public markets in February 2021 , the hand was value at $ 2.6 billion .
At the time , the fellowship had an ambitious plan of developing ultra - gaudy , high - volume rockets that could be found virtually anywhere . But after a series of launch failure , as well as a developing launch grocery that made small artificial satellite launching seem like an increasingly unsustainable stakes , the company pivoted to a gravid version of their launch vehicle . Simultaneously , the society also decided to acquire spacecraft actuation startup Apollo Fusion , which provide the only meaningful reference of gross for the ship’s company — but that business unithas been besetby its own home battle .
As the company has shinny to find its bearings , its been rapidly running out of John Cash and searching for more capital . At the very least , this program would keep the company intact and give Kemp and London more time to find additional funding .
