On Thursday, Astra announced its deal to be taken private by its founders and long time investors, closed, effectively removing it as a publicly traded company. Its new parent company, Apogee Parent LLC, will purchase all of its outstanding stock and all stock it doesn’t own.
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The two founders of Astra Space, Chris Kemp and Adam London, have sent a proposal to the company’s board to take it private with a $30 million valuation. This comes about a week into the search for new funds before its bridge loan comes due on November 17.
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Starting today Astra Space shares are live on the NASDAQ after merging with the special purpose acquisition company Holicity. Astra planes to use the money to grow their rocket production facilities and team.
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