Astra Space, Inc.: Nasdaq/NYSE listing notice — Astra Space receives Nasdaq deficiency notice for low equity, issues $400K convertible note

Astra Space, Inc.

On Apr 23, Nasdaq notified Astra of non-compliance with minimum stockholders' equity requirement ($2.5M) per 10-K.
Astra has 45 days (until June 7) to submit plan to regain compliance; may get extension to Oct 20.
Closed subsequent financing with RBH: $400K principal 12% senior secured convertible note due 2025; net proceeds ~$390K.
Total outstanding convertible notes now $3.399M; notes mature Nov 2025 with minimum return 150%-175% if prepaid.
Merger with Apogee Parent pending; if closed before June 7, stock will be delisted in connection with Merger.

item 2.03 item 3.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Astra Space, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

April 23, 2024, the Company received a deficiency notice from Nasdaq that the Company is not in compliance with the minimum stockholders’ equity listing requirement set forth in Rule 5550(b)(1) (the “ Minimum Stockholders’ Equity Requirement ”) because its Annual Report on Form 10-K for the period ended December 31, 2023 filed with the SEC on April 18, 2024, reported stockholders’ equity below $2,500,000. Additionally, as of the date of this Report, the Company does not meet the alternative Nasdaq continued listing standards under Nasdaq Listing Rules. This notice of noncompliance has had no i

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Source: SEC EDGAR

accession 0001193125-24-117973

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