Astra Space, Inc. (Astra) has entered into a definitive merger agreement with Apogee Parent Inc. and Apogee Merger Sub Inc., both Delaware corporations, as announced in a Form 8-K filed with the SEC on March 7, 2024. The merger will result in Astra becoming a wholly owned subsidiary of Apogee Parent Inc. The company's founders, Chris Kemp and Adam London, who hold approximately 66.1% of the total voting power through Class B common stock, are involved in the transaction. A special committee of independent directors has approved the merger, which is deemed fair and in the best interests of Astra and its public stockholders. At the merger's effective time, each common share of Astra will be converted into the right to...Show More

Astra Space, Inc. (Astra) has entered into a definitive merger agreement with Apogee Parent Inc. and Apogee Merger Sub Inc., both Delaware corporations, as announced in a Form 8-K filed with the SEC on March 7, 2024. The merger will result in Astra becoming a wholly owned subsidiary of Apogee Parent Inc. The company's founders, Chris Kemp and Adam London, who hold approximately 66.1% of the total voting power through Class B common stock, are involved in the transaction. A special committee of independent directors has approved the merger, which is deemed fair and in the best interests of Astra and its public stockholders. At the merger's effective time, each common share of Astra will be converted into the right to receive $0.50 in cash. The merger is expected to close in the second quarter of 2024, subject to customary closing conditions and stockholder approval. Additionally, Astra has entered into various financing agreements, including equity and debt commitments totaling approximately $28.8 million to support the company through the merger completion. Astra's Class A common stock will be delisted from the NASDAQ Capital Market if the merger is consummated.