House SPAC Index: Astra Hires ShareIntel to Examine Inventory Gross sales as Delisting Deadline Looms, Corporations Dodge Bullets in SVB Collapse

Additionally: Satellogic to Launch Crop Indicators System

Welcome to this week’s S-SPACi.

Launch supplier Astra House (NAS: ASTR) has employed Shareholder Intelligence Providers (ShareIntel) to analyze doable unlawful brief promoting of the corporate’s Class A typical inventory as an April 4 deadline looms to keep away from being delisted from the Nasdaq inventory alternate.

Astra mentioned it made the transfer to “proactively overview stockholder possession of Astra’s Class A typical inventory in an effort to determine events to suspicious, aberrant or uncommon buying and selling exercise and deploy corrective motion steps to assist curtail any such exercise.”

“Astra stays dedicated to defending our traders and maximizing stockholder worth. Partnering with ShareIntel will permit Astra to trace share possession, monitor any irregular buying and selling habits, and take applicable measures, if crucial,” CEO and Chairman Chris Kemp mentioned.

Astra House obtained a delisting discover from Nasdaq in early October after its inventory worth closed under $1 for 30 consecutive days. It was given 180 days to get the value again as much as $1 or going through being delisted from the inventory alternate.

The inventory closed at $0.45 on Tuesday.

Astra has the fitting to enchantment any delisting transfer. It may very well be granted an extra 180 days to raises its inventory worth.

Astra House’s aim is to realize a excessive launch fee with very low value boosters. The corporate deserted its Rocket 3.3 final yr after a number of failures. Astra is now working to develop the bigger Rocket 4.0.

House SPAC Index

Firm First Buying and selling Day Opening Share Value Excessive Closing Value (3/14/23)
Arqit (NAS: ARQQ) Sept. 7, 2021 $9.25 $41.52 (9/23/21) $1.09
Astra House (NAS: ASTR) July 1, 2021 $12.30 $16.95 (7/2/21) $0.45
AST SpaceMobile (NAS: ASTS) April 7, 2021 $11.63 $15.48 (6/30/21) $6.17 (NYS: BBAI) Dec. 8, 2021 $9.84 $16.12 (4/6/22) $1.87
BlackSky (NYS: BKSY) Sept. 10, 2021 $11.80 $13.20 (9/16/21) $1.39
Intuitive Machines (NAS: LUNR) Feb. 14, 2023 $10.00 $10.58 (2/14/23) $14.57
Momentus (NAS: MNTS) Aug. 13, 2021 $10.85 12.87 (9/7/21) $0.63
Planet Labs (NYS: PL) Dec. 8, 2021 $11.25 $11.65 (12/8/21) $4.07
Redwire (NYS: RDW) Sept. 3, 2021 $10.70 $16.98 (10/25/21) $3.55
Rocket Lab (NAS: RKLB) Aug. 25, 2021 $11.58 $21.34 (9/9/21) $3.89
Satellogic (NAS: SATL) Jan. 26, 2022 $9.19 $10.92 (5/4/22) $2.45
Satixfy (NYS: SATX) Oct. 28, 2022 $8.29 $51.70
Spire (NYS: SPIR) Aug. 17, 2021 $10.25 $19.50 (9/22/21) $0.81
Terran Orbital (NYS: LLAP) March 28, 2022 $12.69 $12.69 (3/28/22) $2.15
Virgin Galactic (NYS: SPCE) Oct. 28, 2019 $11.79 $62.80 (2/4/21) $5.00
Virgin Orbit (NAS: VORB) Dec. 30, 2021 $8.525 $11.28 (1/11/22) $1.06
Inventory Value Supply: Yahoo Finance

Corporations Dodge Bullets in Financial institution Collapse

Astra, Rocket Lab (NAS: RKLB) and different house corporations will have the ability to entry funds that they had deposited in Silicon Valley Financial institution, which collapsed final week amid a run on deposits.

The U.S. authorities stepped in to ensure all deposits within the financial institution. Beforehand, solely deposits above $250,000 had been protected.

Astra reported that it had $38 million in SVB, which amounted to “roughly 7.9% of the Firm’s complete money and money equivalents and marketable securities as of December 31.”

Rocket Lab reported that 15% of its money, money equivalents and marketable securities had been held in SVB as of March 10, 2023.

Astra and Rocket Lab reported their deposits in SVB as a result of they’re public corporations. Studies point out that different house corporations even have deposits within the financial institution.

Satellogic & InterPlanet to Launch Crop Indicators System

Satellogic (NAS: SATL) and InnerPlant are launching a first-of-its-kind machine designed to detect human-engineered crop indicators from house.

“The specifically designed imaging instrument is scheduled to be mounted to a Satellogic satellite tv for pc and is meant to detect optical indicators emitted by crops engineered by InnerPlant to fluoresce in response to emphasize similar to an assault from pathogens or an absence of water or vitamins,” InnerPlanet mentioned in a press launch.

Drone-based aerial testing will begin within the subsequent few months. The satellite-mounted machine will likely be launched aboard a SpaceX Falcon 9 rocket later this yr.

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