---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-056189"
form_type: "8-K"
ticker: null
cik: "0001814329"
company_name: "Astra Space, Inc."
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:43:45.860190+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Astra Space founders cut buyout offer to $0.50/shr; Special Committee says only alternative is Ch.7 liquidation

## Summary
- Founders lowered buyout offer to $0.50/shr from $1.50; Feb 26 close $1.76, a 72% discount.
- Special Committee: only alternative to revised offer is Chapter 7 bankruptcy liquidation of the company.
- Issued $300K in 12% senior secured convertible notes to CEO Chris Kemp and CTO Adam London.
- Amendment raises aggregate note cap to $35M and extends further issuances until April 30, 2024.
- Revised proposal conditions: $20M cash at closing, Special Committee approval, and definitive financing.

## SEC filing metadata
- accession: 0001193125-24-056189
- form_type: 8-K
- cik: 0001814329
- company_name: Astra Space, Inc.
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1814329/000119312524056189/0001193125-24-056189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1814329/000119312524056189/d759100d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-056189
- JSON: https://secwatch.observer/filing/0001193125-24-056189.json
- Plain text: https://secwatch.observer/filing/0001193125-24-056189.txt

## Key facts
- Debt Financings
  Astra Space, Inc. incurred convertible notes of $300,000 in aggregate principal amount with Chris Kemp Trust and Adam London at 12.0% maturing November 15, 2025.
  - Instrument: convertible notes
  - Principal: $300,000 in aggregate principal amount
  - Counterparty: Chris Kemp Trust and Adam London
  - Rate: 12.0%
  - Maturity: November 15, 2025
  - Event: incurrence
  source text: the Additional Investors purchased $300,000 in aggregate principal amount of a 12.0% Senior Secured Convertible Note due 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1814329/000119312524056189/0001193125-24-056189-index.htm
- Material Agreements
  Astra Space, Inc. amended Second Amendment to Securities Purchase Agreement and Second Amendment to Senior Secured Convertible Notes (effective 2024-02-26).
  - Action: amendment
  - Agreement: equity purchase
  - Effective: 2024-02-26
  source text: On February 26, 2024, Astra Space, Inc. (the “ Company ”) entered into that Second Amendment to Securities Purchase Agreement and Second Amendment to Senior Secured Convertible Notes (the “ Amendment ”) which amendment amends (i) that certain Securities Purchase Agreement dated as of August 4, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1814329/000119312524056189/0001193125-24-056189-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.