Astra Space (ASTR) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Astra Space, Inc. has adjusted its debt repayment plan with holders of its Senior Secured Convertible Notes by amending the original agreement. This strategic financial move postpones their February 2024 cash payment to May 2024, combining it with the May installment for a total of 22.22% of the outstanding principal. This allows the company to allocate more cash towards operational needs in the short term. Additionally, the amendment opens the possibility for Astra Space, Inc. to issue more Convertible Notes, though there’s no certainty of further transactions.
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For a comprehensive understanding of the announcement, you can read the full document here.