Space SPAC Index – Survival Questions for Astra and Momentus

Space SPAC Index – Survival Questions for Astra and Momentus

Bigoride Orbital Transporter.

Image credit: Momentus Space.

welcome to S-SPACI. In this issue, Momentus and Astra say their long-term viability is in grave doubt, Terran Orbital and Redwire see first-quarter revenue growth, and Virgin Galactic sees next launch. He set the date and said Virgin Orbit was on the trail. Agreed to purchase Boeing 747 aircraft.

Momentum: Success in space, lagging earnings

Space transportation provider Momentus (Nasdaq: MNTSMore) report First quarter 2023 revenue was just $22,000, with a net loss of $20.8 million. In the same period last year, he had zero revenue and a loss of $26.8 million. Momentus had $38 million in cash and cash equivalents as of March 21. There are “serious questions” about the company’s viability over the next 12 months, the company said in a filing with the Securities and Exchange Commission (SEC).

Meanwhile, the company reports the success of its space tugs Vigoride 5 and Vigoride 6, which were launched into orbit on SpaceX’s Falcon 9 rockets in January and April, respectively. The company successfully tested a microwave electrothermal thruster system on the Vigoride 5, with ignition lasting from 30 seconds to 6 minutes.As a board member he is Chris Hadfield explained to space referencewhose thrusters are powered by distilled water.

Momentus also revealed that it has signed service agreements with FOSSA Systems, Hello space, Lunasonde, SatRev, and an undisclosed customer planning to launch a constellation of 100 satellites. The Space Development Agency has selected Momentus for the Small Business Innovation Research Phase 2 Award for Developing New Technologies.

Momentus has also reserved space for three SpaceX Transporter rideshare flights in 2024.

Astraspace launch rocket.
Astraspace launch rocket. Image credit: Astra Space.

Astra Space reports zero revenue

Astra Space (Nasdaq: ASTR) also acknowledged that there were “grave doubts” about its ability to continue operations. The company, which has struggled with launches and spacecraft propulsion, reported Monday that it posted zero revenue in the first quarter and a net loss of $44.9 million amid dwindling cash and securities reserves.

Astra First Quarter Ended Cash, cash equivalents and marketable securities are $62.7 million. Cash and cash equivalents totaled $16.8 million and marketable securities totaled $45.9 million.

Astra applied for collect $100 million through the sale of preferred and common stock, bonds, bond warrants, equity warrants, rights and units; The company also reported that it has signed a $11.45 million launch contract with the U.S. Space Force for Astra’s new Rocket 4, which is scheduled to begin flight testing later this year.

Space SPAC Index
May 17, 2023

companyfirst trading dayopening stock priceexpensiveclosing price
Astra Space (Nasdaq: ASTR)July 1, 2021$12.30$16.95 (7/2/21)$0.37
AST Space Mobile (Nasdaq: ASTS)April 7, 2021$11.63$15.48 (21/6/30)$5.26 (NYSE: BBAI)December 8, 2021$9.84$16.12 (April 6, 2022)$2.40
Black Sky (NYSE: BKSY)September 10, 2021$11.80$13.20 (21/9/16)$1.29
Intuitive Machine (Nasdaq: runle)February 14, 2023$10.00$136.00 (2/20/23)$7.80
Momentus (Nasdaq: MNTSMore)August 13, 2021$10.8512.87 (21/9/7)$0.34
Planet Labs (NYSE: PL)December 8, 2021$11.25$11.65 (2021/12/8)$4.15
Redwire (NYSE: RDW)September 3, 2021$10.70$16.98 (2021/10/25)$2.69
Rocket Lab (Nasdaq: RKLB)August 25, 2021$11.58$21.34 (21/9/9) $4.50
Satelogic (Nasdaq: SATL)January 26, 2022$9.19$10.92 (5/4/22)$2.25
Satisfy (NYSE: SATX)October 28, 2022$8.29$51.70
Spire (NYSE: Spiel)August 17, 2021$10.25 $19.50 (September 22, 2021)$0.70
Terran Orbital (NYSE: LLAPMore)March 28, 2022$12.69$12.69 (2022/3/28)$1.55
Virgin Galactic (NYSE: space)October 28, 2019$11.79$62.80 (February 4, 2021)$4.50
Virgin Orbit (OTCMKTS: Volbuk)December 30, 2021$8.525$11.28 (1/11/22)$0.071
Stock Source: Google Finance.

Terran Orbital Revenue Increase

Terran Orbital (NYSE: LLAPMore) reported 115% YoY increase Earnings increased in the first quarter as satellite makers reduced their net losses by 24%. The company received a milestone payment for his 300-satellite constellation being built for Rivada Space Networks.

Redwire Earnings Soar

Redwire reported 75.3 percent increase First quarter revenue increased to $57.6 million compared to the first three months of 2022. Net loss for the period he narrowed to $7.3 million from $17.3 million.

Virgin Galactic Flight

Virgin Galactic (NYSE: space). final flight test of VSS Unity If all goes well, two Italian Air Force officers and an Italian researcher will board the company’s first paid passenger flight in late June.

Virgin Orbit and Stratolaunch Sign Stalking Horse Deal

Bankrupt launch provider Virgin Orbit (OTCMKTS: Volbuk) was entered stalking horse pact Boeing 747 Cosmic Girl sold to Stratolaunch for $17 million. The deal sets a minimum floor price for aircraft that launch satellites using LauncherOne rockets. Bidding for Virgin Orbit closes on Friday, May 19th. If there are multiple eligible bids, the auction will be held on Monday, May 22nd.

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