To raise cash Astra will sell off some of its stock
Short of cash, Astra officials have now decided to sell about $65 million worth of the company’s existing stock.
In a filing with the U.S. Securities and Exchange Commission published after the markets closed, Astra said it had signed a sales agreement with Roth Capital Partners under which it will sell up to $65 million of its stock in an “at-the-market” offering, where shares are sold at the going market rate.
Net proceeds from the stock sale, the company said, would go towards working capital and general corporate purposes. That includes development of its next-generation launch vehicle, Rocket 4, as well as continued production of its Astra Spacecraft Engine electric thrusters.
The stock sale comes as the company was running low on cash. Astra reported having $62.7 million in cash as of the end of the first quarter, with a net loss of $44.9 million. The company reported no revenue in the first quarter.
The $65 million figure is based on the present value of the stock. If the market price drops, a good possibility, the company will raise less.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Short of cash, Astra officials have now decided to sell about $65 million worth of the company’s existing stock.
In a filing with the U.S. Securities and Exchange Commission published after the markets closed, Astra said it had signed a sales agreement with Roth Capital Partners under which it will sell up to $65 million of its stock in an “at-the-market” offering, where shares are sold at the going market rate.
Net proceeds from the stock sale, the company said, would go towards working capital and general corporate purposes. That includes development of its next-generation launch vehicle, Rocket 4, as well as continued production of its Astra Spacecraft Engine electric thrusters.
The stock sale comes as the company was running low on cash. Astra reported having $62.7 million in cash as of the end of the first quarter, with a net loss of $44.9 million. The company reported no revenue in the first quarter.
The $65 million figure is based on the present value of the stock. If the market price drops, a good possibility, the company will raise less.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Doesn’t sound good. IIRC, Astra doesn’t have a product to generate cash flow, just promises of “real soon, now”
Now we know where the money is. But impressive what Astra has done there. I hope Astra’s business concept works.
https://www.youtube.com/watch?v=pSaa5ZNMGYA