Space company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock.
A special committee of the board, with Kemp and London abstaining, voted in favor of the take-private plan.
Astra's stock, halted at 85 cents a share near the time of the announcement, closed at 58 cents a share Thursday.
The San Francisco-area company, incorporated in 2016, once aimed to mass produce small rockets and conduct launches as often as daily.
Since its stock debut, Astra's rockets reached orbit twice – but the company also suffered three launch failures.
Persons:
Chris Kemp, Adam London, –, Kemp
Organizations:
Astra, London, Astra's
Locations:
San Francisco