Businessspace Industry News

"Astra's Founders Take Company Private After Stock Plummets"

Astra, a rocket company that went public in 2021, has now been taken private by its founders after losing 99% of its value due to failed rocket launches and financial struggles. The founders, Chris Kemp and Adam London, along with other long-term investors, have agreed to acquire all shares of Astra common stock not already owned by them for $0.50 per share in cash. The company faces challenges from stiff competition in the small launch industry and questions about the long-term viability of its spacecraft engine business.