Astra Space, Inc entered in to the Purchase Agreement with certain investors and issued 12.0% Senior Secured Convertible Note due 2025 for a principal amount of $6 million and new warrants to purchase up to 2,599,010 shares of the Company?s Class A common stock at an issue price of 40.125 per warrant for gross proceeds of $324,876.26 for an aggregate gross proceeds of $6,324,876.26 on January 19, 2024. The warrants are exercisable at an exercise price of $0.808 per share of Class A Common Stock, subject to certain adjustments, and that expire on January 19, 2029. The Company may issue up to an additional $1.18 million in senior secured convertible notes under the Purchase Agreement, subject to certain limitations.

The Notes bear a interest rate of 12%, will mature on November 15, 2025, unless extended, and are convertible into shares of Class A Common Stock. The transaction included participation from MH Orbit LLC and RBH Ventures Astra SPV, LLC.