Holicity set a June 30 meeting for shareholders to vote on its proposed merger with orbital space-launch company Astra Space. The SEC has declared the proxy effective, the SPAC added.
Announced in February, the transaction is estimated to result in a pro forma enterprise value of approximately $2.1 billion for the combined company.
The deal will be funded through Holicity’s $300 million cash in trust and a $200 million fully committed common stock PIPE at $10 per share, led by funds and accounts managed by BlackRock. Astra’s existing shareholders would hold approximately 78 percent of the outstanding shares of common stock immediately following the closing, assuming no redemptions by Holicity’s stockholders. Read more.
