Astra Space to Be Bought by Founders in Roughly $11 Million Deal

Dow Jones03-08

By Will Feuer

Astra Space founders Chris Kemp and Adam London have struck a deal to buy the company for 50 cents a share, valuing Astra at roughly $11 million.

Trading in shares of Astra was halted. The stock closed Wednesday at 86 cents a share.

Astra shareholder and current board member Scott Stanford, a former investment banker at Goldman Sachs, has agreed to contribute his shares and convertible notes in exchange for equity and warrants in the acquiring entity.

The company said it expects the deal to close in the second quarter.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

March 07, 2024 15:20 ET (20:20 GMT)

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