From Alaska to SPAC(e): Astra Space, the fastest privately-funded US company in history to reach space, and Holicity, Inc., a publicly traded special purpose acquisition company (SPAC), completed their previously announced transaction to take Astra public.
“Becoming a public company is an important milestone in our mission to improve life on Earth from space,” said Chris Kemp, Founder, Chairman and CEO of Astra. “All of us at Astra are humbled by the opportunity to have the support of public shareholders and are grateful to the many people who have contributed so much to help us realize our vision of a healthier and more connected planet.”
The transaction forms a publicly-traded pure-play space company and is expected to start trading on the Nasdaq Global Select Market on July 1, 2021 under the new ticker symbol “ASTR” for Astra common stock and “ASTRW” for Astra warrants.
Astra raised approximately $500 million in cash proceeds from the transaction to accelerate growth, expand its addressable market, and develop its space services platform. Holicity shareholders approved the transaction at a general meeting on June 30, 2021. CEO Chris Kemp and Astra’s management team will continue to lead the combined company.
“I am excited to support Chris and his talented team as Astra begins the next chapter as a public company,” said Craig McCaw, Chairman and CEO of Holicity.