Astra Space, Inc.: debt financing — Astra defers Feb 2024 debt payment; $23.8M notes amended, first payment now May 2024 at 22.22%

Astra Space, Inc.

Amendment defers $2.64M (11.11% of stated principal) from Feb 1, 2024; combined with May 2024 payment to equal 22.22%.
May 1, 2024 payment of ~$5.28M covers both deferred and regular quarterly amortization.
Company may issue up to $1.18M additional Convertible Notes but cautions no assurance of closing.
Holders include JMCM Holdings ($9.69M), SherpaVentures ($5.13M), Chris Kemp Trust ($2M), and others.
Deferral lets Astra prioritize cash for operations; holders retain right to convert deferred payments.

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. amended senior notes of approximately $23.8 million outstanding aggregate principal amount with each of the holders (the " Holders ") of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025 at 12.0% maturing due 2025.

Instrument: senior notes
Principal: approximately $23.8 million outstanding aggregate principal amount
Counterparty: each of the holders (the " Holders ") of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025
Rate: 12.0%
Maturity: due 2025
Event: amendment

Exact text from the filing

On January 31, 2024, Astra Space, Inc. (the “ Company ”) and its subsidiaries (collectively with the Company, the “ Note Parties ”) entered into an Amendment to Senior Secured Convertible Notes (the “ Amendment ”) with each of the holders (the “ Holders ”) of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025 (the “ Convertible Notes ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Astra Space, Inc. amended Amendment to Senior Secured Convertible Notes with each of the holders of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025 valued at approximately $23.8 million (effective 2024-01-31).

Action: amendment
Agreement: notes offering
Counterparty: each of the holders of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025
Value: approximately $23.8 million
Effective: 2024-01-31

Exact text from the filing

On January 31, 2024, Astra Space, Inc. (the “ Company ”) and its subsidiaries (collectively with the Company, the “ Note Parties ”) entered into an Amendment to Senior Secured Convertible Notes (the “ Amendment ”) with each of the holders (the “ Holders ”) of the approximately $23.8 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001193125-24-024828

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