16. The purpose of the increase in the number of authorized shares was for the Company to:
[H]ave sufficient shares to complete the Business Combination and have additional authorized shares for financing its business, for acquiring other businesses, for forming strategic partnerships and alliances and for stock dividends and stock splits
Id. at 112.
| II. | The Stockholders’ Meeting and Vote On the Charter Proposal |
17. There were 37,500,000 shares of Common Stock outstanding and entitled to vote at the Stockholders Meeting, consisting of 30,000,000 shares of Class A Common Stock outstanding and 7,500,000 shares of Class B Common Stock outstanding. Id. at 183. As disclosed in the Company’s June 30, 2021 Form 8-K, the Charter Amendment received the affirmative vote of 18,834,370 shares, a majority of the 37,500,000 shares entitled to vote, and the Company believed the Charter Amendment had received the requisite stockholder vote and been approved.
18. Following the Stockholders Meeting, the Company and its Board treated the approval of the Charter Amendment as valid, as evidenced by the Company’s subsequent actions and disclosures. As disclosed in the Company’s most recent quarterly report, filed on November 9, 2022, the Company had 211,824,567 shares of Class A Common Stock outstanding as of September 30, 2022. See Astra Space, Inc. Form 10-Q for the quarterly period ended September 30, 2022 at 27.
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