Inside Astra’s rocket manufacturing unit, as the corporate prepares to go public
Astra VP of producing Bryson Gentile, left, and CEO Chris Kemp take a protecting cowl off a rocket fairing half.
Michael Sheetz | CNBC
ALAMEDA, California — Rocket builder Astra desires to simplify the launch enterprise, with the soon-to-be-public firm on a quest to each reduce manufacturing prices whereas dramatically growing the variety of launches to a each day fee.
Astra is preparing to go public by the end of June by means of a merger with SPAC Holicity, in a deal that can infuse as a lot as $500 million capital into the corporate. Within the meantime, Astra is increasing its headquarters on the San Francisco Bay whereas the corporate prepares for its subsequent launch this summer season.
A SPAC, or particular function acquisition firm, raises capital in an preliminary public providing and makes use of the proceeds to purchase a non-public agency and take it public.
CNBC toured Astra’s rising facility earlier this month, a go to which was joined by chairman and CEO Chris Kemp and vp of producing Bryson…