Astra to go public through SPAC merger
Posted: Fri, Feb 5, 2021, 6:33 PM ET (2333 GMT)
Small launch vehicle company Astra announced Tuesday it will go public by merging with a special-purpose acquisition company (SPAC). Astra said it will merge with Holicity, allowing it to go public on the Nasdaq exchange. The deal would provide up to $500 million in cash for Astra and value the company at $2.1 billion. Holicity is a SPAC established last year by Craig McCaw, best known in the space industry as one of the founders of satellite constellation company Teledesic in the 1990s. Astra is developing small launch vehicles and nearly reached orbit on its second attempt in December.
Small launch vehicle company Astra announced Tuesday it will go public by merging with a special-purpose acquisition company (SPAC). Astra said it will merge with Holicity, allowing it to go public on the Nasdaq exchange. The deal would provide up to $500 million in cash for Astra and value the company at $2.1 billion. Holicity is a SPAC established last year by Craig McCaw, best known in the space industry as one of the founders of satellite constellation company Teledesic in the 1990s. Astra is developing small launch vehicles and nearly reached orbit on its second attempt in December.
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