Here is my original 1993 paper, “A Rocket a Day”, which has been cited as part of the inspiration by several New Space and smallsat launcher companies.
I hope all this cool news out of Astra allows me to recoup some of my investment. I believe the stock is down 98% from where I bought it.
Time to dollar cost average?
SEATTLE — Astra Space announced Aug. 4 it has laid off a quarter of its workforce and reassigned others from launch vehicle to satellite propulsion development as its cash reserves dwindle.
In a series of statements, the company said it was making a “strategic reallocation of its workforce,” moving 50 engineers from development of its new Rocket 4 vehicle to production of its Astra Spacecraft Engine, while also laying off about 70 employees to reduce costs.
The layoffs and reassignments, Astra said, will delay work on Rocket 4, but it did not estimate by how much. The company said in March that it was on track to carry out a first test flight of the larger rocket before the end of the year.
“The Company’s ability to conduct paid commercial launches in 2024 and beyond will depend on the ultimate timing and success of the initial test launches which will in turn depend on the resources that the Company is able to devote to Launch Systems development in the coming quarters,” Astra stated in a filing with the Securities and Exchange Commission about the restructuring.
ALAMEDA, Calif.–(BUSINESS WIRE)–Sep. 13, 2023-- Astra Space, Inc. (NASDAQ: ASTR) (“Astra” or the “Company”) is announcing that the Company’s Board of Directors has approved a reverse stock split (the “Reverse Stock Split”) of Astra’s Class A common stock, par value $0.0001 (the “Class A common stock”) per share, and Astra’s Class B common stock, par value $0.0001(the “Class B common stock”) at a ratio of 1-for-15 (the “Reverse Stock Split Ratio”). The Reverse Stock Split is expected to become effective immediately after the close of the trading day on the Nasdaq Capital Market (the “NASDAQ”) on September 13, 2023 (the “Effective Time”) and the Class A Common Stock will begin trading on the NASDAQ on a reverse split-adjusted basis on September 14, 2023 under the ticker symbol “ASTR”.
Following the Reverse Stock Split, the Company’s Class A common stock will have a new CUSIP number (04634X202).
When the Reverse Stock Split is effective, every 15 shares of Class A Common stock issued and outstanding or held as treasury stock (if applicable) as of the Effective Time will be automatically combined and reclassified into one share of Class A common stock. The par value per share of the Class A common stock and number of shares of Class A common stock authorized under the Company’s Certificate of Incorporation will not change.
This is to keep the stock from being de-listed by NASDAQ. A stock with a minimum bid price of US$ 1 for 30 consecutive days is eligible for de-listing.