Astra Space Intends To Avoid Nasdaq Delisting, Seeks 180-Day Extended Compliance Period

  • Spacecraft engine manufacturer Astra Space Inc ASTR outlined measures available to regain compliance with the Nasdaq Listing Rules and maintain its Class A common stock listing.
  • On Oct. 6, 2022, Astra received a letter from Nasdaq stating that Astra was no longer in compliance with the Nasdaq Listing Rules as the closing bid price of Astra shares was below $1.00 for 30 consecutive business days. 
  • On Mar. 13, 2023, Astra submitted an application to Nasdaq for an additional 180-day period to comply with the minimum bid price requirement.
  •  Based on the discussions with representatives of Nasdaq, Astra expects to hear back from Nasdaq regarding the application status on or around Apr. 5, 2023.
  • If at any time during the extended compliance Period, the closing bid price of Astra’s shares needs to be at least $1.00 for a minimum of ten consecutive business days, either due to stock performance or as a result of the company effectuating a reverse stock split.
  • Price Action: ASTR shares closed at $0.42 on Thursday.
  • Photo Via Company
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