Astra Space, Inc.: debt financing — Astra Space to go private at $0.50/share; founders hold 66% voting power; $28.8M equity commitments

Astra Space, Inc.

Public stockholders receive $0.50 per share in cash; founders roll over their shares into Parent.
Controlling stockholders (66% voting power) already approved merger; no further stockholder vote required.
Equity commitments total ~$28.8M from founders, SherpaVentures, Astera, Eagle Creek, RBH et al.; interim debt up to $2.5M.
Noteholders consent to merger; $3.5M segregated for operating expenses and bankruptcy work.
Closing expected Q2 2024; conditions include no law prohibiting and accuracy of representations.

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 $5,000,000 in aggregate original principal amount with Astera at 12.0% maturing 2025.

Instrument: senior notes
Principal: $5,000,000 in aggregate original principal amount
Counterparty: Astera
Rate: 12.0%
Maturity: 2025
Event: incurrence

Exact text from the filing

On March 6, 2024, the Company closed a subsequent financing (the “ March 6 Financing ”) with Astera, pursuant to the Purchase Agreement, in which Astera purchased (i) $5,000,000 in aggregate original principal amount of a 12.0% Senior Secured Convertible Notes due 2025

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

Astra Space, Inc. incurred senior notes of $200,000 in aggregate original principal amount with Ulrich Gall at 12.0% maturing 2025.

Instrument: senior notes
Principal: $200,000 in aggregate original principal amount
Counterparty: Ulrich Gall
Rate: 12.0%
Maturity: 2025
Event: incurrence

Exact text from the filing

On March 8, 2024, the Company closed a subsequent financing (together with the March 6 Financing and the March 7 Financing, the “ Subsequent Financings ”) with Ulrich Gall (together with Astera and ERAS, the “ Additional Investors ), pursuant to the Purchase Agreement, in which Mr. Gall purchased $200,000 in aggregate original principal amount of a 12.0% Senior Secured Convertible Note due 2025

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

Astra Space, Inc. incurred senior notes of $1,000,000 in aggregate original principal amount with ERAS Capital, LLC at 12.0% maturing 2025.

Instrument: senior notes
Principal: $1,000,000 in aggregate original principal amount
Counterparty: ERAS Capital, LLC
Rate: 12.0%
Maturity: 2025
Event: incurrence

Exact text from the filing

On March 7, 2024, following the signing of the Merger Agreement and the Limited Consent, the Company closed a subsequent financing (the “ March 7 Financing ”) with ERAS Capital, LLC (“ ERAS ”), pursuant to the Purchase Agreement, in which ERAS purchased (i) $1,000,000 in aggregate original principal amount of a 12.0% Senior Secured Convertible Note due 2025

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.6

Astra Space, Inc. entered into Warrant Exchange Agreement with each holder of Warrants.

Action: entry
Counterparty: each holder of Warrants

Exact text from the filing

a warrant exchange agreement, by and among Parent, Merger Sub, and each holder of Warrants (the “ Warrant Exchange Agreement ”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.6

Astra Space, Inc. entered into Noteholder Conversion Agreement with each holder of Convertible Notes.

Action: entry
Agreement: notes offering
Counterparty: each holder of Convertible Notes

Exact text from the filing

a noteholder conversion agreement, by and among Parent, Merger Sub, and each holder of Convertible Notes (the “ Noteholder Conversion Agreement ”)

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

Astra Space, Inc. entered into Agreement and Plan of Merger with Apogee Parent Inc., Apogee Merger Sub Inc. (effective 2024-03-07).

Action: entry
Agreement: merger
Counterparty: Apogee Parent Inc., Apogee Merger Sub Inc.
Effective: 2024-03-07

Exact text from the filing

the Company, Apogee Parent Inc., a Delaware corporation (“ Parent ”), and Apogee Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“ Merger Sub ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”)

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

Source: SEC EDGAR

accession 0001193125-24-065330

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