Space start-ups struggling to get off the ground

Space companies that have gone public within the past five years are combatting a downward spiral in their profits.

Among them is Astra, which went public in 2021. While it has contracts with other companies like SpaceX and NASA, its stock is down nearly 75% at $2.37 a share from last year. At the end of the first day it began trading on the NASDAQ, its shares were more than $232.

“As a company right now, it’s really tough in the market,” Founder, Chairman, and CEO Chris Kemp said in an August interview. “So if the only thing we were relying on was like shareholders buying stock, that wouldn’t make a lot of sense.”

As a result, Astra has provided senior secured notes and at-the-market offerings to raise capital. In recent years, Astra has narrowed its scope
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