Chicago, Aug. 8 – Astra Space, Inc. placed $12.5 million of 9% senior secured notes due 2024 and warrants with an institutional investor, according to a press release.
The investor may purchase up to 22.5 million shares of class A common stock, par value $0.0001 per share. The warrants are immediately exercisable at a price of $0.45 per share, and will expire on Aug. 4, 2028.
The notes are secured by a first priority security interest in all of the assets of Astra and its subsidiaries.
A.G.P./Alliance Global Partners was the placement agent.
Proceeds of approximately $10.8 million are being used for working capital and general corporate purposes.
Astra offers dedicated orbital launch services, or commercial launches to low Earth orbit. The company is based in Alameda, Calif.
| Issuer: | Astra Space, Inc.
|
| Amount: | $12.5 million
|
| Issue: | Senior secured notes
|
| Maturity: | Nov. 1, 2024
|
| Placement agent: | A.G.P./Alliance Global Partners
|
| Coupon: | 9%
|
| Call: | At least $5 million at 105
|
| Settlement date: | Aug. 4
|
| Distribution: | Private placement
|
| Warrants: | 22.5 million shares at $0.45 per share, immediately exercisable through Aug. 4, 2028
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
