An in depth up take a look at Astra’s LV0008 rocket at LC-46 in Cape Canaveral, Florida.
John Kraus / Astra
Embattled small rocket-builder Astra revealed Friday that it acquired a delisting warning from the Nasdaq after its inventory spent 30 consecutive days under $1 per share, a violation of the alternate’s necessities.
The corporate has 180 days to elevate its share worth or face delisting, in accordance with a regulatory submitting.
Astra inventory closed Friday at 59 cents per share, down greater than 90% this yr and greater than 95% off its 52-week excessive of $13.58. The corporate debuted on the Nasdaq in July 2021 by way of a merger with a particular objective acquisition firm.
Astra didn’t instantly return request for remark Friday on the delisting warning.
The rocket builder has been saddled with quarterly losses and in August mentioned it was pausing flights for the rest of the yr.
“Whether or not we’ll be capable of begin industrial launches in 2023 will depend upon the success of our take a look at flights” for a brand new rocket system, CEO Chris Kemp mentioned throughout the firm’s second-quarter convention name.
Astra can also be going through a Federal Aviation Administration investigation right into a failed rocket launch in June that was carrying a pair of satellites for NASA’s TROPICS-1 mission. The corporate was unable to ship the satellites to orbit, and NASA put the remaining two launches it had contracted from Astra on maintain.
— CNBC’s Michael Sheetz contributed to this report.