Astra's founders, Chris Kemp (chairman and CEO) and Adam London (CTO), have proposed a plan to privatize Astra by acquiring all the outstanding stocks of the company themselves.

The decision has been taken in the wake of a series of launch failures and the evolving launch market, which has prompted the company's pivot to larger vehicles. They've also proposed this due to the financial needs, as it has been rapidly depleting its cash reserves and seeking more capital.

Analyst QuickTake: Founders Kemp and London have been instrumental in implementing the company's evolving strategies and plans. In 2022, the company acquired Apollo Fusion, a startup specializing in spacecraft propulsion, which has been a crucial source of revenue. Additionally, Astra secured interim financing from two investors earlier this week, as its propulsion business remains a key aspect of its strategies. The company aims to fulfill a backlog worth USD 77 million. Astra aims to raise additional liquidity through various capital-raising endeavors, cost-cutting measures, and strategic transactions