The Space Investor - 🚀 Astra To Go Private

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• On Monday morning, following Friday's buyout bid, an independent committee of the Board of Directors noted they will determine the course of action that is in the best interest of all stockholders "which intends to enable all stockholders to realize the full value of their investment in Terran Orbital."
   
• Terran CEO Marc Bell told CNBC it is “looking at everything” regarding the company’s future. “We found out when the rest of the world found out about it,” Bell continued.
   
• “We’ve had many conversations with many people and continue to run our process. We have no deadline to our process, and our goal is to have maximum value for all of our shareholders,” Bell said.
   
• Terran is also “thrilled with the validation” that Lockheed’s (28.3% owner) offer gave.
   
• Shares finished the week +11.2% higher but since it's SPAC IPO in March 2022, Terran shares are down about -87%.

• Last week, Astra CEO and CTO revised their take private offer at $1.50 per share from November 2023 to $0.50 per share.
   
• This week the Special Committee of Board of Directors unanimously approved the deal "taking into account Astra’s current liquidity situation" and "determined that the proposed transaction is in the best interests of Astra."
   
• No additional stockholder approval is required and the transaction is expected to close in Q2 of 2024.
   
• What a ride it's been from a $2 billion IPO valuation to $13M as of Friday close. Shares closed the week -57% and since inception are -95% since $10 SPAC price. See below for the historical trading history of ASTR.

• Cash & Equivalents: $41M
• Revenue: $106M, +32% YoY
• Net Loss: $(64)M vs. $(89)M
• Adj. EBITDA: $(11) vs. $(33)M
• Shares: +9.0%

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