![Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com](https://earth-news.info/wp-content/uploads/2025/09/319001-jenny-han-dropped-a-major-the-summer-i-turned-pretty-easter-egg-revealing-spoiler-yahoo-com-360x180.jpg)
A prototype of Astra’s Rocket 4 launch vehicle. Credit: Astra
WASHINGTON — Launch vehicle and spacecraft propulsion company Astra Space raised $2.7 million from investors as it continues to work on a long-term funding deal that could take the company private.
In a filing with the U.S. Securities and Exchange Commission after the markets closed Nov. 24, Astra said it completed a “subsequent financing” with two existing investors, JMCM Holdings LLC and Sherpa Ventures Fund II, as well as company co-founders Chris Kemp and Adam London.
That financing included modifying existing loans, a new $3 million loan and the sale of stock warrants. Astra said in the filing that the net proceeds from that financing, after expenses, were $2.7 million.
The filing provided no updates on efforts to arrange a long-term financing deal for the company, which has been running low on cash. The company secured $13.4 million in “initial financing” Nov. 6 from JMCM Holdings LLC and Sherpa Ventures Fund II, which the company described at the time as linked to a non-binding term sheet Astra announced Oct. 23 that sought to raise $15 million to $25 million.
That financing included a bridge loan that was due Nov. 17. The investors later provided a four-day extension of that loan, to Nov. 21, while it worked on a larger funding agreement.
In the interim, Astra announced Nov. 9 that co-founders Kemp and London had offered to take the company private for $1.50 per share. Neither the company nor the co-founders have provided updates on that proposal, which the company said it was evaluating. The deal would require Kemp and London to raise an estimated $60 million to $65 million in capital to buy the outstanding shares as well as cover expenses and provide bridge financing to the company.
When Astra announced the proposal by Kemp and London, it offered a roughly 100% premium on the value of Astra’s shares at the time. Those shares have subsequently risen, and closed Nov. 24 at $1.57.
Jeff Foust writes about space policy, commercial space, and related topics for SpaceNews.
He earned a Ph.D. in planetary sciences from the Massachusetts Institute of Technology and a bachelor’s degree with honors in geophysics and planetary science…
More by Jeff Foust
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : SpaceNews – https://spacenews.com/astra-secures-2-7-million-in-additional-financing/
