Exhibit 99.1
ASTRA SPACE, INC. ANNOUNCES REVERSE STOCK SPLIT
1-for-15 Reverse Stock Split for Class A Common Stock Expected to Begin Trading on Reverse Split-Adjusted Basis on September 14, 2023
Alameda, California – September 13, 2023 – Astra Space, Inc. (NASDAQ: ASTR) (“Astra” or the “Company”) is announcing that the Company’s Board of Directors has approved a reverse stock split (the “Reverse Stock Split”) of Astra’s Class A common stock, par value $0.0001 (the “Class A common stock”) per share, and Astra’s Class B common stock, par value $0.0001(the “Class B common stock”) at a ratio of 1-for-15 (the “Reverse Stock Split Ratio”). The Reverse Stock Split is expected to become effective immediately after the close of the trading day on the Nasdaq Capital Market (the “NASDAQ”) on September 13, 2023 (the “Effective Time”) and the Class A Common Stock will begin trading on the NASDAQ on a reverse split-adjusted basis on September 14, 2023 under the ticker symbol “ASTR”.
Following the Reverse Stock Split, the Company’s Class A common stock will have a new CUSIP number (04634X202).
When the Reverse Stock Split is effective, every 15 shares of Class A Common stock issued and outstanding or held as treasury stock (if applicable) as of the Effective Time will be automatically combined and reclassified into one share of Class A common stock. The par value per share of the Class A common stock and number of shares of Class A common stock authorized under the Company’s Certificate of Incorporation will not change.
When the Reverse Stock Split is effective, every 15 shares of Class B Common stock issued and outstanding or held as treasury stock (if applicable) as of the Effective Time will be automatically combined and reclassified into one share of Class B common stock. The par value per share of the Class B common stock and number of shares of Class B common stock authorized under the Company’s Certificate of Incorporation will not change. The Class B common stock is not publicly traded.
Continental Stock Transfer & Trust Company is acting as transfer and exchange agent for the Reverse Stock Split. Registered stockholders who hold shares of Class A common stock and Class B common stock in uncertificated form are not required to take any action to receive post-reverse split shares and holders of certificated shares will receive instructions from the Company’s transfer agent. Stockholders owning shares through an account at a brokerage firm, bank, dealer, custodian or other similar organization acting as nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker’s particular processes, and will not be required to take any action in connection with the Reverse Stock Split.
Additional information about the Reverse Stock Split can be found in Astra’s definitive proxy statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 28, 2023, which is available free of charge at the SEC’s website, www.sec.gov, and on Astra’s Investor Relations website at investors.astra.com.
About Astra Space, Inc.
Astra’s mission is to Improve Life on Earth from Space® by creating a healthier and more connected planet. Astra pursues that mission through its Launch Services and Space Products businesses. Astra’s Launch Services business offers one of the lowest cost-per-launch dedicated orbital launch services of any operational launch provider in the world. Astra delivered its first commercial launch to low Earth orbit in 2021, making it the fastest company in history to reach this milestone, just five years after it was founded
