Summary by Moomoo AI
Astra Space, Inc. (Astra) has entered into a merger agreement that will result in the company ceasing to be publicly traded and becoming wholly owned by the parent company. As part of the merger, each Class A Share will be converted into the right to receive $0.50 per share in cash. The merger was approved by the board on March 5, 2024, with key shareholders executing a written consent on March 7, 2024. Astra has also engaged in financing activities, including the sale of Convertible Notes and Company Warrants, raising gross proceeds of approximately $19.9 million since December 31, 2023. However, the company acknowledges the need for substantial additional funding to continue operations until the merger's completion. Astra has amended its financing agreements to extend certain obligations...Show More