In an unusual news release, SPAC Astrea Acquisition today said it “wishes to clarify to the investor community that it is not the same company as Astra Space, Inc. (NASDAQ: ASTR), which had some unfortunate press this week.”
Astrea Acquisition is in a pending three-way merger with HotelPlanner and Reservations.com. The deal is expected to provide more than $120 million in cash proceeds to the balance sheet of the combined company, if approved and assuming no redemptions. The SPAC’s shareholder vote on the deal is set for Feb. 15.
Astra Space, by contrast, is a small rocket launch startup that saw its shares plunge 26% this week after a NASA mission failed mid-launch. Read more.
