Astra founders offer to take company private at value of about $30 million
Publishing timestamp: 2023-11-09 09:57:34
Summary
The founders of Astra, a struggling space company, have proposed to take the company private at a value of about $30 million. The company's rocket-launching business has been on hiatus since a mission failure in June 2022, and they are running out of cash. The founders plan to raise capital to fund the take-private move and believe it is in the best interest of shareholders, employees, and customers. Astra went public in 2021 but has faced launch failures since then.
Sentiment: NEGATIVE
Tickers: ASTR,
Keywords: breaking news: technology, astra space inc, breaking news: business, the edge, space industry, business, chris kemp, business news, technology, aerospace and defense industry, transportation,
Source: https://www.cnbc.com/2023/11/09/astra-founders-offer-to-take-company-private.html