Astra Space, Inc. (NASDAQ: ASTR) has entered into a common stock purchase agreement with B. Riley Principal Capital II, LLC ("B. Riley Principal Capital II"). The agreement governs a Committed Equity Facility that provides Astra the right, in its discretion and without obligation, to sell and issue up to $100 million of its Class A common stock over the course of 24 months to B. Riley Principal Capital II, subject to certain limitations and conditions, including that in no event will the number of shares of Class A common stock sold exceed 19.99% of its outstanding Class A and Class B common stock.
"Securing this Committed Equity Facility is an important step in achieving Astra's mission to Improve Life on Earth from Space," stated CFO Kelyn Brannon. "The flexibility to raise equity capital as the need arises supports our current operations and the ongoing development of our launch services, space products and other space services offerings."
This press release is informational only and does not represent an offer to sell or the solicitation of an offer to buy any of Astra's securities. There will be no sale of Class A common stock in any jurisdiction in which such a sale would be unlawful.
Further details are contained in the Current Report on Form 8-K that Astra filed with the Securities and Exchange Commission today.
