Astra Space defers $7M amortization on $31.7M convertible notes to June 1

Astra Space, Inc.

Fourth amendment to 12% Senior Secured Convertible Notes due 2025 defers May 1, 2024 payment to June 1, 2024; combined 22.22% of $31.71M principal due.
Deferral allows Astra to prioritize cash for operations; holders retain right to convert deferred payments into equity.
Company may issue up to $18.29M additional notes, but provides no assurance of completion.

Key facts

Extracted from this filing and checked against the source text.

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

Astra Space, Inc. amended Fourth Amendment to Senior Secured Convertible Notes with the holders of the approximately $31.71 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025 valued at approximately $31.71 million outstanding aggregate principal amount (effective 2024-04-30).

Action: amendment
Agreement: notes offering
Counterparty: the holders of the approximately $31.71 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025
Value: approximately $31.71 million outstanding aggregate principal amount
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, Astra Space, Inc. (the “ Company ”) and its subsidiaries (collectively with the Company, the “ Note Parties ”) entered into a Fourth Amendment to Senior Secured Convertible Notes (the “ Amendment ”) with each of the holders (the “ Holders ”) of the approximately $31.71 million outstanding aggregate principal amount of the Note Parties’ 12.0% Senior Secured Convertible Notes due 2025 (the “ Convertible Notes ”)

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Source: SEC EDGAR

accession 0001193125-24-127434

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