Astra Faces Uncertain Future After Falling Short on Launches and Pivoting to Untested New Rocket
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Astra went public in 2021 at a $2.1 billion valuation but struggled with failed rocket launches, causing its stock price to plummet.
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Astra announced plans to pivot to a larger rocket called Rocket 4 but missed targeted test launches in 2023.
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Astra founders Chris Kemp and Adam London proposed taking the company private at lower and lower share prices, warning of bankruptcy.
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Astra agreed to be taken private by its founders and investors at $0.50 per share, far below its 2021 public valuation.
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Astra faces an uncertain future, with its new Rocket 4 likely years from launch, while facing stiff competition in the small launch market.