Astra Space, Inc.: debt financing — Astra Space raises $12.5M in senior secured notes with warrants at $0.45/share

Astra Space, Inc.

Issued $12.5M principal of 9.0% senior secured notes maturing Nov 1, 2024, plus warrants for 22.5M shares.
Net proceeds ~$10.8M; intends to use for working capital and general corporate purposes.
Warrants exercisable immediately at $0.45/share, expiring Aug 4, 2028, with anti-dilution adjustments.
Potential additional $7.5M notes and warrants subject to conditions including $1.00 VWAP and cash thresholds.
Notes secured by first-priority lien on all assets; restricted cash of $5.0M must be maintained.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Astra Space, Inc. incurred senior notes of $12.5 million aggregate principal amount with an institutional investor at 9.0% per annum maturing November 1, 2024.

Instrument: senior notes
Principal: $12.5 million aggregate principal amount
Counterparty: an institutional investor
Rate: 9.0% per annum
Maturity: November 1, 2024
Event: incurrence

Exact text from the filing

“ Investor ”) pursuant to which the Investor agreed to purchase, and the Company agreed to issue and sell in a registered direct offering to the Investor (the “ Offering ”), $12.5 million aggregate principal amount of senior secured notes (the “ Initial Notes ”) and warrants (the “ Initial Warrants ”) to purchase up to 22.5 million shares of the Company’s Class A

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Astra Space, Inc. entered into Purchase Agreement with an institutional investor valued at $12.5 million aggregate principal amount of senior secured notes (effective 2023-08-04).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: $12.5 million aggregate principal amount of senior secured notes
Effective: 2023-08-04

Exact text from the filing

On August 4, 2023, Astra Space, Inc. (the " Company ") entered into a securities purchase agreement (the " Purchase Agreement ") with an institutional investor (the " Investor ") pursuant to which the Investor agreed to purchase, and the Company agreed to issue and sell in a registered direct offering to the Investor (the " Offering "), $12.5 million aggregate principal amount of senior secured notes

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Source: SEC EDGAR

accession 0001193125-23-204012

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