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Astra Runs Out of Capital?
Case Closed did the math based upon Astra’s 3Q22 reporting – Astra only has enough capital to last until September 2023. Without additional cash, the end of September will be the end for Astra.
Astra has a few options to address their looming capital issue: issue and sell new (dilutive) stock; take on debt; accelerate revenue receipts for their spacecraft engine product; and/or reduce their cash burn through massive cost cutting (e.g., abandoning launch services and transforming into a spacecraft products business). Other alternatives for Astra include: being acquired; or declaring bankruptcy. It is not clear which option Astra will take, or be forced into. Time will tell… and the clock is ticking.
To understand how Astra ended up in this situation take a look at Astra Space Inc. Company History 2016 to the Present. For more information about how the delisting process works see Will Astra be delisted from the Nasdaq? To see how Astra stacks up against other Space SPAC companies check this out Space SPAC Companies Performance. For a wider perspective on relative performance read Space Companies Relative Performance (Publicly Listed).