Astra Space, Inc.

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Ademi LLP is investigating Astra Space (Nasdaq: ASTR) for possible breaches of fiduciary duty and other violations of law in its transaction with Chris Kemp and Dr. Adam London.

In the transaction, Astra Space shareholders will receive only $0.50 per share in cash, representing a more than 32% discount on the stock's closing price on November 8, 2023, the day before the co-founders' original bid was disclosed.  The transaction agreement unreasonably limits competing transactions for Astra Space by imposing a significant penalty if Astra Space accepts a competing bid. Astra Space insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Astra Space’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.