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Rocket’s Astra Space goes public with astronomical $2.1b valuationINTL

Rocket’s Astra Space goes public with astronomical $2.1b valuation

Astra Space Inc. is also Team SPAC! The California-based space-transportation firm is set to go public via a merger deal with blank-check company Holicity Inc. at an astronomical valuation of $2.1b.

Astra is known for making small rockets and shooting satellites into orbit, and it will become the first small-rocket maker to go public in the US. The new entity will be listed on the tech-heavy Nasdaq under the symbol “ASTR”.

Astra is one of the few space startups with “flight-proven” technology. this is the highest rating of Technology Readiness Levels, meaning it has been used in a successful space mission. Last year, they sent a rocket to orbit from a launchpad in Alaska – which, let’s admit, is pretty cool for a relatively small startup. Shooting for the stars, it seems?

why it matters
Both tech SPACS and commercial space companies have skyrocketed to fame in recent years, so this looks like a winning formula. By listing on the stock market, Astra will differentiate itself from other high-technology players in the same industry by being able to attract further funding (following the footsteps of SpaceX, for instance). Investors certainly appear excited, as Holicity’s shares were up by as much as 56% in pre-market trading.