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The Space Investor - 🚀 Astra ($ASTR) Goes Private

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The Space Scoop
Week Ended 07.19.2024
Happy Friday! This week we said goodbye to Astra's publicly traded shares. Lets pour one out and dive right in.

Market Max-Q
Forward Forward

Top Stories
1) Astra ($ASTR) officially goes private.
  • The launch company announced the closing of its take-private transaction on Thursday with shares ceasing trading on the Nasdaq Friday. After going public at a $2.1B valuation and peaking at $3.9B valuation, the company fell to a ~$12M valuation before delisting.
     
  • As announced on March 7th, Apogee Parent, Inc., an entity formed by CEO Chris Kemp and CTO Adam London, acquired all of the outstanding shares not already owned for $0.50 per share in cash.
     
  • Despite a 1-for-15 reverse split conducted last September, Astra shares didn't survive and joined the -99% club. Here's to hoping we hear from them again in the future.

2) Airbus ($EADSY) and Thales Alenia ($THLLY) are exploring a merger per sources.
  • The two European aerospace groups are rumored to be exploring a "tie-up of some space activities" due to new competition disrupting the sector (aka Starlink), two industry sources stated, with a focus on overlapping satellite activities.
     
  • Both companies declined to comments on the rumors. "They are thinking about this seriously," one of the sources said.
     
  • Discussions emerged after Airbus took a €900M charge for its struggling space services business, following €500M last year.
     
  • Airbus CEO told Wall Street analysts that the company was "evaluating all strategic options" for its space business including restructuring, co-operation, portfolio review and potential for M&A.

In Other News
KBR to Acquire LinQuest Corp for $737M (Company)
The acquisition of the engineering, data analytics and digital integration company will boost KBR's footprint in the national space security market and is an important accelerator to its strategy of furthering the delivery of high-end technology, expertise and mission capabilities.

PLD Space Finances €31.2M Syndicated Loan (Company)
The funding will be used to support the company’s Miura 5 launch program and the expansion of the its industrial capabilities and corporate growth. The round was led by Banco Santander and EBN Banco with participation from the Instituto de Crédito Oficial.

Momentus Announces $2.3M Convertible Note and $500K Loan (Company)
With $MNTS shares down -67% YTD, the company announced funding from Space Infrastructure Ventures LLC as well as directors and officers of the company. Funding will be used to support operations and the pursuit of funding opportunities.

Rocket Lab Downgraded by Morgan Stanley (Investing.com)
On Monday, the Wall Street bank downgraded $RKLB from 'Overweight' to 'Equalweight' and reduced their price target from $8 to $6 per share reflecting a reassessment of the near-term growth catalysts.

Image of the Week
Full Duration Static Fire of Flight 5 Super Heavy Booster: A thing of beauty, right? (Source)

Links
• Planet ($PL) Wins Seven-Figure Pilot With International Defense Customer for PlanetScope Data Enhanced With SynMax AI

• Planet ($PL) Appoints Susan Wojcicki to Board of Directors

• Redwire ($RDW) Secures Follow-On Order for Roll-Out Solar Arrays for Thales Alenia

• Rocket Lab ($RKLB) Celebrates CHIPS Act Funding Preliminary Agreement

• Elon Musk Announces SpaceX Headquarters Move to Texas

• Intuitive Machines ($LUNR) IM-2 Engine Qualification Advances Cargo Class Lander Development

• Firefly Aerospace Announces Leadership Changes

• Intuitive Machines ($LUNR) Finalizes Landing Site for IM-2 Lunar Prospecting Mission

• Rocket Lab ($RKLB) Provides Near-Term Electron Launch Updates

Opinion
• GOP Platform Lays Out Aggressive Space Agenda To Counter China

• Iridium ($IRDM) Has Come Back Down to Earth

Earnings Calendar
• $IRDM: Jul 23 - Before Market Open
• $GD: Jul 24 - Before Market Open
• $NOC: Jul 25 - Before Market Open
• $HON: Jul 25 - Before Market Open
• $BA: Jul 31 - Before Market Open
• $MDA: Aug 8 - Before Market Open
• $BKSY: Aug 8 - Before Market Open
• $RKLB: Aug 8 - After Market Close

*Company confirmed dates only.
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Disclaimer: The Space Investor ("TSI") does not provide financial advice. All content is for informational purposes only and is not a solicitation to buy or sell any assets. TSI is not a registered investment, legal, or tax advisor or a broker/dealer.

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