Tag: Astra

Astra is now targeting mid-’26 for first launch of its new Rocket-4 rocket

9:00 am

According to a presentation by Astra officials this week, the company now plans the first launch of its larger Rocket-4 rocket in the summer of 2026, followed by a second launch in the fall for the Pentagon.

The summer 2026 inaugural launch will be a test flight, Kemp said, followed by one in October or November for the Defense Department’s Space Test Program. Astra plans quarterly launches of Rocket 4 in 2027, with long-term goals for much higher launch rates. Astra has maintained plans to make Rocket 4 a transportable launch system using standard shipping containers, allowing it to operate from sites with little more than a concrete pad.

This company has had a checkered history. It built and launched its smaller Rocket-3 rocket several times back in 2021 and 2022, with mixed results. After those launch failures it then decided to retire that smaller rocket for Rocket-4, only to run out of cash in 2023-2024. In 2024 its founders put together the cash to buy up the company’s stock to go private, and since then it has made most of its money from that one military test contract as well as selling its electrical propulsion systems to satellite companies.

If it gets Rocket-4 off the ground and begins regularly launches it will be an amazing recovery.

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Rocket startup Astra wins $44 million development contract to build its Rocket-4

8:54 am

Having shut down its smaller Rocket-3 rocket operations and then almost going bankrupt, the startup Astra is apparently coming back from the dead, having won a $44 million military development contract to build its larger Rocket-4 rocket.

Chris Kemp, Astra’s chief executive, said in an interview the company intends to leverage its contract with the Defense Innovation Unit to demonstrate point-to-point delivery of about 1,300 pounds of cargo using Rocket 4. The military for years has expressed interest in using rockets for rapid deployment of critical supplies to remote locations, complementing traditional transportation methods.

The company now claims it will do the first test launch of Rocket-4 in 2026.

When the company’s stock valuation dropped so much in 2022 and was on the verge of shutting down, Kemp and a team of investors purchased that stock and took the company private. Since then it has mostly focused on building attitude thrusters for satellites. Whether this new contract is enough to get this new rocket off the ground remains a big unknown.

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Astra goes private

9:56 am

The troubled rocket startup Astra has completed a purchase deal with its original two founders, with the company becoming a privately owned company entirely owned by those two individuals.

Under the terms of the definitive agreement for the transaction (the “Merger Agreement”) that was previously announced on March 7, 2024, Apogee Parent, Inc., (“Parent”), an entity formed by Chris Kemp, Astra’s co-founder, chief executive officer and chairman, and Dr. Adam London, Astra’s co-founder, chief technology officer and director, will acquire all of the outstanding shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Shares”) not already owned by it for the right to receive $0.50 per share in cash, as more fully described in the Merger Agreement.

With the completion of the take-private acquisition, the Class A Shares ceased trading prior to the opening of trading on July 18, 2024 and will no longer be listed on the Nasdaq Capital Market (“Nasdaq”).

Whether this deal can save the company remains unknown. It ceased launching its Rocket-3 rocket due to technical problems and the rocket’s overall small capacity, and has been very short of cash, hindering development of its proposed larger Rocket-4.

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June 4, 2024 Quick space links

5:18 pm

Courtesy of BtB’s stringer Jay. This post is also an open thread. I welcome my readers to post any comments or additional links relating to any space issues, even if unrelated to the links below.

 

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Video shows Astra rocket exploding on launchpad during early 2020 launch attempt

9:12 am

In March 2020 the rocket startup Astra was attempting to complete its first orbital test launch. After one attempt that was scrubbed, the next ended with what the company called “an anomaly” when a fire destroyed the rocket on the launchpad.

Immediately after that failure the company furloughed one fifth of its workforce, and did not succeed in getting a rocket to orbit until November 2021, after another two failures.

Video obtained by Tech Chrunch now shows what happened on that March 2020 failure. The Astra rocket simply exploded on launchpad, destroying everything.

The company has been an example of the risks of freedom and private enterprise. It appeared to be one of the big successes, getting rockets built and launched, during which it also went public. Instead, after a few launch successes it abandoned its rocket, ran out of cash, and then the stock was purchased for pennies by the company’s two founders — taking it private once again. At the moment it is not clear if the company will ever rise from the ashes.

In other words, buyer beware. The claims of any new company is not to be trusted blindly. Sometimes their claims are filled with hubris.

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Astra’s board agrees to deal to take the company private

9:24 am

The board of directors of the rocket startup Astra have finally agreed to a cut-right price offer from the company’s two founders to buy the company and take it private once again, rather than declare bankruptcy.

The company announced Thursday that its board had accepted an offer from its CEO, Chris Kemp, and its CTO, Adam London, to purchase the remaining Astra stock at a price of $0.50 per share. The deal is expected to close in the second quarter of 2024, at which time Astra will cease trading on the Nasdaq.

This offer was significantly less than their first offer in November, when Kemp and London offered to buy the company for $1.50 per share, suggesting the company’s value has declined significantly in the interim as its cash assets declined. This decline suggests that any recovery will be difficult and long, and could easily fail.

Freedom is wonderful in that it allows for the greatest amount of creativity, competition, and achievement, from everyone. It also carries great risk that everyone must face. Astra has now illustrated the risk. Not all creative gambles are going to succeed.

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Astra’s founders slash their offer price to buy the company

9:31 am

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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Astra secures temporary investment funding to keep it afloat

8:44 am

Astra announced yesterday that it has secured temporary funding from private sources to cover its shortfall of cash and allow it to secure additional funds to keep it alive. From the second link:

In a statement issued after the close of trading, Astra said that JMCM Holdings LLC and Sherpa Venture Funds II, LLP, which it described as affiliates of two early investors in Astra, agreed to provide $13.4 million in “initial financing” as part of a non-binding term sheet Astra announced Oct. 23 that sought to raise $15 million to $25 million.

As part of the agreement, the investors will purchase the $8 million loan that Astra had from an unnamed institutional investor from August. Astra had defaulted on the terms of the loan agreement last week when its cash reserves dropped below $10.5 million, triggering a $3.1 million payment at a higher interest rate. The investors will also provide a $3.05 million bridge loan due Nov. 17, and purchase warrants for Astra stock.

The company is not out of the woods quite yet. It needs to obtain new investment capital by November 17th, when that bridge loan comes due.

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Astra defaults on debt agreement

10:25 am

The rocket startup Astra revealed on Friday that it was unable to meet the requirements of one of its investors that it maintain at least $10.5 million in cash reserves, and thus defaulted on that debt agreement.

Astra twice last month failed to meet minimum cash reserve requirements associated with a $12.5 million note issuance to New Jersey investment group High Trail Capital.

The debt raise first required that Astra have “at least $15.0 million of cash and cash equivalents” on hand. That liquidity requirement was adjusted after Astra failed to prove compliance a first time, to require “at least $10.5 million of unrestricted, unencumbered cash and cash equivalents.” Having fallen out of compliance a second time, Astra now owes $8 million on the aggregate principal investment.

Sadly, it appears the end for this company is coming.

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Astra scrambling to find investors as its cash reserves dwindle

9:27 am

Despite a major reorganization, including laying off a quarter of its workforce, Astra now appears to be scrambling to find new investors even as its available cash reserves shrink.

The company’s financial runway is diminishing even as the company finds new sources of capital, such as a loan announced Aug. 4 that will provide Astra with $10.8 million and plans announced in July to sell up to $65 million in Astra stock in an “at-the-market” transaction. The company forecasted an adjusted EBITDA loss of $25 million to $29 million in the third quarter, ending the quarter with $15 million to $20 million of cash and equivalents on hand.

One analyst on the call expressed frustration with those projections, asking Astra executives for the “upside” of the company’s plans. Kemp emphasized the backlog of orders for its thrusters, which Astra said Aug. 4 was valued at $77 million, as well as orders from the U.S. Space Force and the Defense Innovation Unit for the Rocket 4.

However, he suggested the company’s efforts to focus on thruster production were intended to buy time for Astra as the company looks for new investors. The company said Aug. 4 it was working with PJT Partners, an investment bank, to identify “potential strategic investments in the Astra Spacecraft Engine business” that would bolster its finances. “We are actively focused on finding investors in these two businesses,” he said, noting that the company’s launch and spacecraft propulsion business lines are distinct and “in different phases of their development.”

Essentially the company is approaching a make-or-break moment. What I think is likely to happen is it will either go bankrupt, or be purchased outright by a new big-money investor who will take over the company entirely, replacing its present management with new people.

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Astra lays off 25% of workforce, mostly in its rocket departments

10:07 am

Astra revealed yesterday that it has laid off 25% of its workforce, with most of those jobs coming from those working of developing its rocket, in order to focus the company on its rocket engine business, the only area it at present has a chance of earning revenue.

The reallocation and layoffs are expected to delay testing of the under-development Rocket 4 and Launch System 2.0, Astra said. The affected employees worked in the company’s launch, sales and administration and “shared services” departments. Workforce reductions are expected to save the company more than $4 million per quarter beginning in the fourth quarter of this year.

Astra, which is facing dwindling cash reserves, is no doubt looking for a way to further reduce operating expenses while also bolstering its spacecraft engine business, the only business unit that currently has a near-term chance of generating revenue. The spacecraft engine technology is sourced from Astra’s acquisition of propulsion developer Apollo Fusion, which closed the day Astra went public in July 2021.

Indeed, Astra said that it had closed 278 committed orders of the Astra Spacecraft Engine product through the end of March, which totals around $77 million in contracts once the engines are delivered. A “substantial majority” of these orders will be delivered through the end of 2024, the company said.

What these actions mean is that Astra is no longer a rocket company. It might return eventually, but for now there is little chance it will resume launches for years.

It is interesting that this action was revealed only one day after a class-action lawsuit was dismissed by investors against the company for claiming that it would soon be launching 300 times per year.

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To raise cash Astra will sell off some of its stock

10:15 am

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.

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Astra confirms it is buying Ursa Major rocket engines for its Rocket-4 upper stage

9:55 am

Astra yesterday confirmed that it will be buying Ursa Major’s Hadley rocket engine for the upper stage of its Rocket-4, now tentatively scheduled for a first test launch later this year.

Astra has been tight-lipped about the new upper stage engine that would power its new Rocket 4, with CEO Chris Kemp only telling investors last year that the rocket’s substantially increased payload capacity was thanks in part to engine upgrades. Outsourcing the engine helps clarify how Astra was able to so quickly pivot its plans for Rocket 4, including doubling the launch vehicle’s payload capacity from 300 kilograms to 600 kilograms.

Ursa Major has already sold engines to several rocket companies and the government, including Phantom, Vector, Stratolaunch, and the Air Force. It is also building two different larger engines, Ripley and Arroway, with the latter aimed at replacing the engines Russia provided to ULA and Northrop Grumman.

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Astra asks for more time from Nasdaq before its stock is delisted

8:54 am

The rocket startup Astra has now asked Nasdaq to give it an extra six months beyond the early April deadline to get its stock price above $1 in order to avoid getting delisted from the stock market.

With its share price at $0.42 upon closing Thursday, Astra Chief Financial Officer Axel Martinez wrote in a blog post that the space company formally requested on Monday another six-month window to raise the share price above $1 for 10 consecutive business days as required to stave off a delisting.

It appears the company might be considering a reverse-stock split, whereby stocks are combined with the total number reduced, thus artificially raising the stock price. Nasdaq will consider this tactic an acceptable solution, though it is also considered a last-ditch approach.

Right now Astra is no longer an operational rocket company, having discontinued its Rocket-3 rocket. It says it is developing a new rocket, dubbed Rocket-4, but whether it can get this operational before it runs out of money or gets delisted remains unknown.

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Space startups get their SVB assets back when Feds move in

9:34 am

Because of the decision of the federal government to guarantee all deposits at the failed Silcon Valley Bank (SVB), even those above the $250K limit set by the FDIC law, several space rocket startups are no longer threatened with failure, for now.

Astra for example is now seeking to move as quickly as it can its assets, equaling about 15% of the company, to other financial institutions.

I would expect this incident will cause every company to make sure their assets are distributed more widely, as a hedge against the failure of one bank.

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Astra to lay off 16% of its workforce

9:59 am

Astra, having abandoned its Rocket-3.3 in order to develop its larger Rocket-4 smallsat launcher, announced yesterday that is laying off 16% of its workforce as part of this change in direction.

The decision to abandon Rocket-3.3 has at this time removed the company as an operational rocket company, and has thus put it behind several other competitors which are now gearing up for launch. Its third quarter report also showed a $41 million loss this year, 26% larger than the same quarter last year.

As a result, the company’s stock value has declined 94%, and is now selling for 58 cents per share. If that price does not rise above $1 before April of next year, NASDAQ has said it would delist it.

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Astra’s last rocket failure pinpointed to upper stage engine

9:33 am

Astra has determined that the launch failure in June 2022 was because the upper stage engine of its Rocket 3.3 rocket was burning fuel faster than it was supposed to.

“We’ve determined that the upper stage shut down early due to a higher-than-normal fuel consumption rate,” the update reads. “We have narrowed the root cause to an issue with the upper stage engine. We have also completed many rounds of ground testing, including multiple tests that yielded results consistent with the failure condition in flight.”

When the failure happened, the company had quickly determined that the upper stage had shut down prematurely. The investigation has now determined that it had simply run out of fuel, because of that higher-than-intended burn rate.

While they say they will next institute corrective measures, that seems unlikely for this engine. In August Astra announced it would no longer launch Rocket 3.3, and was instead shifting to the development of a newer bigger rocket, Rocket-4. It now appears that decision was made based on the results of this investigation. The engine probably has fundamental issues that could not be resolved easily.

This decision to cease use of Rocket 3.3 essentially removed Astra as an operational rocket company. Whether the company can re-enter the launch market with a new rocket however remains very unclear.

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September 2, 2022 Quick space links

4:36 pm

Courtesy of BtB’s stringer Jay.

The tweet however provides no date for the test, nor any information about this particular engine itself.

This is preliminary design work involving Earth-based tests. A later phase, not yet awarded, will move on to orbital tests.

Most of this new private capital apparently came from Saudi Arabia and Greece, and the constellation will start out focused on serving those regions as well as Luxembourg.

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Astra gets contract to provide engines to OneWeb satellites

8:59 am

Capitalism in space: Astra, the startup rocket company that recently announced a cessation in launches, has won a contract to provide engines used by OneWeb satellites to maneuver in orbit.

he Astra Spacecraft Engine was designed by Apollo Fusion, which Astra acquired last year. It is an electric Hall engine and has been used by York Space Systems, Spaceflight’s Orbital Transfer Vehicle (OTV) Sherpa-LTE, and a U.S. Air Force intelligence satellite. Astra signed a deal earlier this year to supply the engines to LeoStella.

In retrospect, the purchase by Astra of Apollo last year was a signal that the company might be shifting its gears away from rocketry, at least in the short term. This contract, along with the others won by Apollo before Astra bought it, provides Astra a survival profit stream even as it has leaves the rocket launch market while attempting to develop its proposed larger Rocket-4. Whether it can resume launches eventually remains somewhat doubtful, as a number of new rocket companies should become operational in the interim, making that smallsat launch market very crowded.

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Astra cancels all launches with its Rocket 3.3 rocket

9:01 am

Capitalism in space: Astra yesterday announced that it has canceled all further launches with its Rocket-3.3 rocket, and will instead focus on developing a larger version, dubbed Rocket-4, which it says will begin test flights in 2023.

The company says that it will no longer fly the Rocket 3.3 and move on to its larger Rocket 4 vehicle that it announced in May. One change is that the payload performance of the new rocket has doubled to 600 kilograms. Kemp didn’t disclose details of the design change other than an upgrade to its upper stage engine. Rocket 3.3, by contrast, had a payload capacity of no more than 50 kilograms.

“The feedback that we were getting from some of the larger constellation operators was that satellites were getting larger,” he said. Discontinuing the existing Rocket 3.3, he said, allowed the company to focus its resources on the new launch system, including increasing its payload capacity.

Essentially, Astra has left the field and is at present no longer an operational smallsat rocket company. It is also likely that its announced schedule for its upgraded rocket will not be met. Thus, expect customers to shift to other launch providers able to launch satellites, such as Rocket Lab and Virgin Orbit.

Not surprisingly, the company’s stock plunged soon after this announcement.

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Astra launch a failure when upper stage shuts down prematurely

11:09 am

Capitalism in space: A launch attempt today by Astra of two NASA weather cubesats, designed to study the evolution of storms in the tropics, was a failure when the upper stage engine shut down prematurely.

This was the second launch failure for Astra out of three launch attempts in 2022. Both this failure and the February 10th failure occurred after the first stage has successfully done its job. The first was due to the failure of the fairings to separate. Today the fairing ejected properly, but then the second stage engine failed.

The launch however did illustrate something quite profound. Though it occurred about one hour and forty-three minutes into its two hour launch window, the launch team was able to recycle the count three times due to various issues and still launch. What makes this significant is that such quick countdown recycles have now become very routine.

When SpaceX did its first quick countdown recycle back during its first Falcon-1 launches in the 2000s it was astonishing, as NASA would never do such a thing. If a NASA shuttle launch aborted close to launch, the agency would always stand down for at least a day to figure things out. Even today, its ability to do a quick countdown recycle with its SLS rocket is almost impossible, as shown during its first attempt to do a dress rehearsal countdown of SLS in April. With each abort the agency had to reschedule for the next day or even later. It had little ability to quickly turn things around.

Private enterprise has since proven that such slow operations are inefficient and unnecessary.

Meanwhile, Astra needs to fix this issue and launch again. It was able to investigate and fix the fairing issue that caused that February launch failure in just over a month. Hopefully it can do the same again.

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Astra reveals vague details about its next larger rocket

9:22 am

Capitalism in space: In a public event in California yesterday Chris Kemp, CEO of the rocket startup Astra, revealed some vague details about the company’s new larger rocket, dubbed Rocket 4.0.

The vehicle will be able to place up to 300 kilograms into low Earth orbit and 200 kilograms into sun-synchronous orbit at a “base price” of $3.95 million. By contrast, Astra’s current Rocket 3.3 vehicle can accommodate a small fraction of that payload, having to date launched only a few cubesats at a time.

…The biggest change in the rocket is its first stage propulsion. While Rocket 3.3 uses five of Astra’s Delphin engines, generating a combined 35,000 pounds-force of thrust, Rocket 4.0 will use two larger engines that produce a combined 70,000 pounds-force of thrust.

Kemp’s presentation however did not reveal whether Astra is building it or whether the company is buying it from someone else. He did say the company does not plan to attempt ot reuse any portion of Rocket 4.0, saying that the economics did not work for Astra.

His presentation also suggested a first launch for late this year, using a mission control made up of only two people, what he called “a pilot and a co-pilot.”

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Astra signs deal to launch from SaxaVord Spaceport in Shetland

9:12 am

Capitalism in space: Astra today announced an agreement with the SaxaVord Spaceport in the Shetland Islands to begin launches from that United Kingdom location, beginning in 2023.

These launches will be the first by Astra outside the U.S. It is the second American company to sign on with SaxaVord, with Lockheed Martin’s ABL rocket company smallsat startup planning its own first launch there later this year. SavaVord also has a launch deal with a French company, Venture Orbital Systems, which hopes to launch later this decade.

None of these however could be the first launch from the United Kingdom since the 1960s. Virgin Orbit has a deal to launch from a runway from a Cornwall airport later this year. Furthermore, the rocket company Orbex is planning to launch its Prime rocket from a differenct spaceport in Sutherland, Scotland.

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OneWeb and Arianespace scramble to find a rocket to launch satellites

10:26 am

Capitalism in space: With the cancellation of the last six Soyuz-2 launches for OneWeb and Arianespace due to Russia’s invasion of the Ukraine, the two companies are struggling to find an alternative rocket to launch the remaining 216 satellites that would complete OneWeb’s satellite constellation.

OneWeb has already paid Arianespace for the launches, so the responsibility to get the satellites in orbit is at present Arianespace’s. The problem is that its flight manifest for both the Ariane-5 (being retired) and the new Ariane-6 rocket are presently full.

Going to another rocket provider is problematic, even if a deal could be negotiated. The flight manifest for ULA’s Atlas-5 and Vulcan rockets is also filled. Though SpaceX’s Falcon 9 could probably launch the satellites, that company’s Starlink satellite constellation is in direct competition with OneWeb, which makes it unlikely the two companies could make a deal.

There have been negotiations with India to use its rockets, but it is unclear at present whether this will work.

One other option is to buy a lot of launches from the smallsat rockets of Rocket Lab, Virgin Orbiter, and Astra. This will likely cost more because more launches will be required, and that would required a complex negotiation between all parties.

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Astra successfully completes its second orbital launch

9:44 am

Capitalism in space: After a February 10, 2022 launch failure, the rocket startup Astra today successfully completed its second orbital launch and first in 2022, putting its first commercial payloads into orbit.

Unfortunately the separation and deployment of a payload platform from the upper stage had not been confirmed as of this posting. While the payloads can still function attached to the upper stage (they are not fully functional satellites), if this deployment turns out to be a failure it will put a stain on the launch. Astra confirmed the successful deployment of the payloads about an hour after launch.

That the company could investigate a launch failure, fix the problem, and resume launches in just over a month however speaks well for its future. If the deployment failed fixing it should proceed as quickly. Meanwhile, the company announced yesterday a new multi-launch contract through 2025 with Spaceflight, which finds launches for smallsats and also provides a small tug to move them into their preferred orbit.launches.

The leaders in the 2022 launch race remain unchanged:

10 SpaceX
5 China
2 ULA
2 Russia

The U.S. now leads China 16 to 5 in the national rankings.

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Astra completes investigation into February 10th launch failure

8:44 am

Capitalism in space: Astra today released the results of its investigation into its February 10th launch failure, confirming that the failure occurred because the improper separation of the fairings on the upper stage.

Through their analysis, Astra confirmed that the payload fairing on LV0008 failed to separate properly prior to upper stage engine ignition due to an electrical issue. The five separation mechanisms that are present in the Rocket 3 fairing were triggered in an incorrect order, resulting in unexpected fairing movement that caused a disconnection in the electrical wiring. This meant that one of the five separation mechanisms did not receive the command to open, thereby preventing the fairing from separating completely.

Upon further investigation, Astra narrowed the root cause of the fairing separation issue down to an error in the electrical harness engineering diagram for the separation mechanisms. The harness was built and installed as specified by the drawing and installation procedures, but an error in the drawing itself led to two of the five harness channels being inadvertently swapped.

In addition, the company identified a software problem “that left the upper stage engine, Aether, unable to utilize its thrust vector control (TVC) system – which allows the engine to gimbal and maneuver the vehicle.”

The company states that both issues have been corrected, and is now targeting March 13 for its next launch, taking place from Kodiak, Alaska, and only carrying a test dummy payload that will not be released from the upper stage. Thus, this test launch will be similar to the company’s only orbital launch on November 19, 2021.

Astra’s fast investigation, fix, and determination to launch again quickly speaks well of the company. Why however it doesn’t test its deployment system with a dummy satellite on this next test launch is somewhat puzzling, especially since it would be very easy to release that dummy into an orbit that quickly decays and burns up in the atmosphere.

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Astra releases update on February 10th launch failure

9:50 am

Capitalism in space: Astra yesterday released an update on its investigation into its February 10th launch failure at Cape Canaveral.

The update doesn’t provide any conclusions, but merely notes that the company has completed its review of all “video and telemetry” from the event, and has reconstructed a full timeline from that data.

It is now reviewing that timeline to create what engineers call “fault trees”, each a specific scenario path pointing at a possible cause of the failure. Once that cause has been identified, engineers can then propose a solution.

According to the press release, the company is already “implementing corrective actions”, though the release provides no information as to what the cause was or what they are doing to correct. It states instead that once the investigation and corrections have been completely, the company will then release a full report.

Meanwhile, it appears that at least six law firms are considering suing the company, which became a publicly traded company in July 2021. These law firms “…are seeking clients who lost significant amount of money after purchasing the stock.” The launch failure caused the stock value to drop significantly, and these law firms apparently think that the company has made false claims about its plans — such as its claim that it will eventually be launch 300 times per year — and wish to put together a class action lawsuit based on this accusation plus the drop in stock price.

Whether Astra can meet its goal of 300 launches per year is certainly at this time questionable. However, it is too soon to call the company a failure. Once it recovers from the launch failure and resumes launches — a process that for any new rocket company generally takes a few years — that stock price will certainly recover, and will rise with each successful launch.

Only should Astra fail to resume launches, or continue to fail with each launch, will the stock truly crash, and thus provide these law firms with a possible case.

At the same time, in a free society we are supposed to recognize the concept of “buyer beware.” If you buy a product or a stock, it is at your own risk. If you fail to do due diligence beforehand, your loss is your responsibility, not the company who made the product or whose stock crashed.

It appears, based on everything Astra has so far done, an investment in its stocks while quite risky has not been an unreasonable gamble, making the present case for these lawsuits somewhat weak. Time will tell however whether that changes in the future.

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Astra launch fails when upper stage starts tumbling after stage separation

2:02 pm

Capitalism in space: Astra’s first attempt to launch from Cape Canaveral and put commercial cubesats in orbit failed today when the upper stage started to tumble immediately after the first stage had separated.

Embedded below is video showing that tumbling. The full replay of the launch live stream can be viewed here.

The silver lining of this failure is that the first stage and all launch operations appeared to function perfectly, right up until after stage separation. Nonetheless, it is a failure, and the company will need to try again and succeed if it wants to survive in the aggressive new launch market.
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Astra launch aborts at T-0

12:17 pm

UPDATE: The launch has been scrubbed for the day. No word on when they will reschedule, nor has Astra released any information as to what caused the launch abort, other than a “telemetry issue.”.

Capitalism in space: The second attempt by Astra to launch its first commercial satellites on its second orbital launch from Cape Canaveral aborted at T-0.

The launch on February 5th was scrubbed when some radar equipment used by the range failed.

The launch team is presently reviewing the data to see if they can recycle and attempt another launch today. This would be the second recycle today, as the first launch attempt was held about a minute before launch and then recycled, leading to the launch abort at T-0. The launch window still has about 100 minutes left.

The rocket is carrying four cubesats, three built by students at three different universities, with the fourth built by engineers at NASA’s Johnson Space Center in their effort to learn how to build cubesats for themselves.

I have embedded Astra’s live stream below the fold, for those who wish to watch.
» Read more

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Astra’s 1st launch from Kennedy scheduled for Feb 5

8:49 am

Capitalism in space: Astra’s first satellite launch from Cape Canaveral has now been scheduled for Feb 5, 2022, when the startup will attempt to launch four cubesats for NASA.

This launch will also be Astra’s first operational launch, and the first to carry actual satellites on its Rocket-3.3 rocket. If successful it will join Rocket Lab and Virgin Orbit as the third operating commercial smallsat rocket company.

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