Rocket start-up Astra to go public in race for commercial space

The rocket start-up Astra plans to go public, the company announced Tuesday, raising $500 million to bolster its position in the burgeoning market for space transportation. In a deal valued at $2.1 billion, Astra would become the first publicly traded company dedicated to delivering satellites into Earth’s orbit. The Alameda, Calif.-based rocket-maker intends to go public through a merger with a blank-check company, or what’s known as a special purpose acquisition company (SPAC), which acts as a financial vehicle to bypass the traditional IPO process. More

(Source: Washington Post - Feb 3)