Astra’s founders slash their offer price to buy the company
The two founders of the startup Astra have now slashed their offer price from $1.50 to $0.50 per share to buy the company and take it private.
Kemp and London cited several reasons for cutting the share price. They included continued cash burn by the company since they tendered the original offer and higher “non-operating expenses” as the company used multiple third-party advisers to assess options. They also said the special committee, as well as customers and investors, sought a plan that ensured a sufficient cash balance to support company operations once the deal closed.
It appears that they are willing to let the company go into bankrupty rather than pay their original offer. The new offer of $0.50 per share however remains significantly below the present trading price of about $1.76.
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The two founders of the startup Astra have now slashed their offer price from $1.50 to $0.50 per share to buy the company and take it private.
Kemp and London cited several reasons for cutting the share price. They included continued cash burn by the company since they tendered the original offer and higher “non-operating expenses” as the company used multiple third-party advisers to assess options. They also said the special committee, as well as customers and investors, sought a plan that ensured a sufficient cash balance to support company operations once the deal closed.
It appears that they are willing to let the company go into bankrupty rather than pay their original offer. The new offer of $0.50 per share however remains significantly below the present trading price of about $1.76.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
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5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
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Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
By slashing you the offering price for their own company, are they not, in effect, telling people the company is in poor standing?