History

Astra Space is a rocket launch and satellite engine developer based in Alameda, California. Founded in 2016 as Ventures, LLC. The company was referred only as “Stealth Space Company” by the media until it went public via aBloomberg article in 2020 [Paywalled].

The company has developed several rockets over its lifetime, naming using a basic numeral versioning method. Rocket 1 and 2 were suborbital test rockets with Rocket 3 being the first orbital and commercially available rocket. Currently, Astra is working on developing Rocket 4, a larger, more capable, and reliable rocket slated to launch in early 2024.

In February 2021, Astra announced it would go public via a SPAC merger with a valuation of $2.1 billion. Shortly after that announcement, the company shared it would purchase electric propulsion manufacturer Apollo Fusion for $50 million. Because of these two deals, Astra now produces and sells the “Astra Spacecraft Engine” to satellite manufactures looking for propulsion needs.

Astra first reached orbit with its Rocket 3.3 vehicle LV0007 in November 2021 with a payload for the US Space Force. The Rocket 3 family was eventually retired in August 2022 after a rough two out of seven launch success rate.

In 2023, it became obvious that Astra was running out of cash through its quarterly earning reports. The company’s stock also tanked below the $1.00 requirement to remain on the NASDAQ for over a year. Right now, Astra founders Chris Kemp and Dr. Adam London have submitted an offer to take the company private at a $30 million valuation. That offer is still being reviewed by the board, of which both Kemp and Adam sit on.

After being faced with a decision to be taken private or face bankruptcy,Astra Space‘s board decided toaccept the co-founder’s proposal to purchase the remaining shares at a extreme discount to its original SPAC valuation. After years of struggles, its fate is still unknown.

According to a SEC filing,Astra Space has received another short term bridge loan to further solve its long term funding woes. The loan came from the same two providers that bailed out the company at the end of last month.

• Podcast
• SpaceX
• Virgin Galactic
• Astra

Space Explored Podcast 69: Astra is at an inflection point

Seth KurkowskiNov 21 2023 - 8:20 am PT

0 Comments

This week Seth and Jared discuss (the now past) flight of SpaceX’s Starship rocket, Virgin Galactic layoffs. But the main topic this week is Astra, which is in trouble again, as they try to secure are financing.

Subscribe:

• Spotify
• Apple Podcasts
• Overcast

The two founders ofAstra Space, Chris Kemp and Adam London, have sent a proposal to the company’s board to take it private with a $30 million valuation. This comes about a week into the search for new funds before its bridge loan comes due on November 17.

Last weekAstra Space, a space launch and engine company, defaulted on its debt leading to the need to take on a short term funding round in hope it can find more before running out of cash. The company has been struggling for the past year to keep its stock priceabove the $1.00 mark and get its Rocket 4 developed.

• Podcast
• Blue Origin
• Rocket Lab
• Astra
• Arianespace

Space Explored Podcast 64: Blue Origin gets help from NASA on an orbital crew system

Seth KurkowskiJun 22 2023 - 9:50 am PT

0 Comments

This week Seth and Jared recap the week’s top stories like the first launch of Rocket Lab’s HASTE, Astra’s financial future, and more. Then the two deep dive into Blue Origin’s agreement with NASA to help in its development of an orbital crew system.

Subscribe

• Spotify
• Apple Podcasts
• Overcast

Astra shareholders voted to perform a reverse stock split in the company’s annual shareholder meeting. As the company’s stock remains below the NASDAQ limit, this quick fix could give Astra more time to get itsLaunch System 2 online.

It was a bold decision by Astra toscrap its flight-proven (ish) Rocket 3.3 vehicle for a brand new “Launch System 2,” which includes a new Rocket 4 vehicle. But it seems to be paying off with the Space Force signing on for a mission in the next few years.

It looks like we will be getting an update on Astra’s progress on its Launch System 2 next month with the company’s second annual “Spacetech Day” event. The event will also cover the company’s electric propulsion system.

Last week, the US saw the second biggest bank closure in history, with the FDIC taking over Silicon Valley Bank. While SVB specialized in tech startups, space companies also used the bank, including Astra, Rocket Lab, and more.

Last June Astra launched its final Rocket 3 mission, which was a pair of satellites for NASA. Sadly that mission did not end well with a failure in the second stage. The company has now released its report detailing what went wrong.

• SpaceX
• NASA
• Blue Origin
• Space Explored Podcast
• Astra

Space Explored Podcast 51: Elon, Starlink, and Ukraine, more

Seth KurkowskiOct 18 2022 - 6:25 pm PT

0 Comments

Seth and Jared discuss what is going on in Ukraine with Elon Musk and Starlink. They also catch you up on the top headlines in space from this past week.

Subscribe

• Spotify
• Apple Podcasts
• Overcast

It’s already been about a month since Astra’s closing price on NASDAQ went below the $1 limit, which triggers some issues with the powers that be in New York. Since then, the stock price has continued to decrease in value as failed launches have led the company to shift to a new rocket design.

• SpaceX
• NASA
• Space Explored Podcast
• Astra
• Firefly

Space Explored 50: Astra delisting notice, Elon Musk with Ukraine, more

Seth KurkowskiOct 11 2022 - 8:04 am PT

0 Comments

This week Seth and Jared dive into Astra Space receiving a delisting warning from the NASDAQ and what that means if you own shares of the company. Also, they catch you up on all the rockets that launched last (eight in seven days!!!), Elon Musk’s peace idea for Ukraine and Taiwan, oh and what’s the deal with that Crew-5 Meatball?

Subscribe

• Spotify
• Apple Podcasts
• Overcast

Just over a year ago, Astrawent public on the Nasdaq Global Select Market, closing at $12.90 on its first day. Astra’s stock price has since plummeted to less than $1, starting a clock before it could be moved off the Nasdaq.

Astra lifted off once again from Florida’s Space Coast, this time carrying NASA’s TROPICS-1 mission. However, it failed to make orbit after the second stage shut down early. This is thesecond failed mission Astra has launched for NASA and makes a total of five failed flights overall.

At Astra’s Spacetech Day 2022, it unveiled a first look at Rocket 4, the company’s new, larger rocket which is set to have its first test launch later this year.

• Astra

Astra launches its own apparel store, benefiting humanitarian efforts in Ukraine

Seth KurkowskiMar 15 2022 - 1:00 pm PT

0 Comments

In correlation with its eighth launch,Astra released its long-awaited apparel store. For the first two weeks of being open, Astra will donate all profits to charities supporting humanitarian efforts in Ukraine.

Astra launched its LV0009 Rocket 3 from Kodiak, Alaska, with three payloads from launch services company Spaceflight Inc. While there seemed to be some hiccup during deployment, Astra announced that all payloads are communicating with its customers.

• Spaceflight
• Launch
• Astra
• Rocket 3.3

Launch Spotlight: Spaceflight Astra-1 – Astra set to attempt to launch payloads to space

Jared LockeMar 15 2022 - 7:31 am PT

0 Comments

Astra is set to launch their Rocket 3.3 LV0009 to space on March 15, 2022, at 12:22 p.m. EDT (9:22 a.m. PDT) from Pad LP-3B at the Pacific Spaceport Complex in Kodiak, Alaska. This mission is carrying satellites from a variety of companies.

In a press release on March 7,Astra released preliminary information about what happened during its ELaNa 41 mission last month. In it, Astra’s LV0008 Rocket 3 suffered from one anomaly, but two.