"Astra Faces Liquidation Threat if Private Proposal Fails"
Astra's board has warned that if it fails to complete a deal to go private, the company may have to liquidate. The company is reviewing a revised proposal to go private at $0.50 per share, which is two-thirds lower than the original offer. A Chapter 7 bankruptcy filing is being considered if the deal falls through, and the company's liquidity situation remains unclear. Astra has sold $300,000 in convertible notes to its founders and is in discussions regarding interim financing needs. There is uncertainty about whether the founders can raise the necessary funds to take the company private.