Astra's New Subsidiary

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The Space Scoop

Week Ended 07.07.2023

Good Evening and Happy Friday!Ā It was a short holiday week in the U.S.. Lets dive in.

Market Max-Q

Top Stories

1)Ā Astra ($ASTR) is reportedly creating a new subsidiary for its spacecraft engine business.

  • Per sources related to TechCrunch, ASTR is undergoing an internal restructuringĀ to carve out its spacecraft engine arm, Apollo Fusion which was acquired in July 2021. The new subsidiaryĀ namedĀ Astra Spacecraft Engines, Inc. was incorporated on June 5.

  • Why? The move comes as ASTR has had to turn away talented candidates for too long now.Ā American launch companies are governed by International Traffic in Arms Regulations (ITAR), or strict export control rules, while spacecraft component companies are usually governed by Export Administration Regulations (EAR).

  • We imagine this has been in the works for some time now, as the company has struggled to produce viable orbital rockets and its stock has cratered. Investors should find out soon enough.

In Other News

Benchmark Space Systems Raises $33.2M Series B RoundĀ 

TheĀ Vermont-based in-space propulsion product developer raisedĀ  new the funding to help manufacture at scale and deliver on 220+ propulsion systems in its backlog.Ā CEO Ryan McDevitt noted the startup will disclose its investors in a future announcement.

DISH Rumored to Merge with EchoStar

According to sources familiar with the matter, the two companies have engaged advisors to work out a potential deal. The Satellite TV broadcaster $DISH would re-merge with its previous sister company EchoStar ($SATS) to shore up financial resources following their separation back in 2008. More to come..

Space Pioneer Raises Undisclosed Series C RoundĀ 

The China-based rocket startup raised the capital for further production related to its Tianlong-3 medium-lift reusable launch vehicle. The startup has raised $414M since inception in 2018. Participants include China International Capital Corporation, CCB International, CITIC Construction and Zhejiang University Lianchuang.

Chart of the Week

Investment in Earth Observation, by Segment

Links

ā€¢Ā Momentus ($MNTS) Announces Cancellation of FY 2023 Annual Meeting of Stockholdersā€¢Ā Sidus ($SIDU) and Lulav Space Partner To Launch Event-Based Star Tracker (EBST) on June 2024 SpaceX Missionā€¢ Terran Orbital ($LLAP) Customer Rivada Meets Review for ITU Waiver To Deploy Constellationā€¢Ā Voyager Space Signs MOU With NewSpace India Limited To Explore Collaborative Opportunities in Space Technology

Opinion

ā€¢Ā SpaceX Now Has a ā€˜De Factoā€™ Monopoly on Rocket Launchesā€¢Ā The Psychology of Space Exploration ā€” And Why It Matters on Earthā€¢Ā Congress Should Stop the Coming Regulatory Assault on Commercial Spaceā€¢Ā The ROI in Space Sustainabilityā€¢Ā Virgin Galactic ($SPCE) Remains a Gambleā€¢Ā Terran Orbital ($LLAP): Rocketing Towards Growth or Bracing for Zeroā€¢Ā Satellogic ($SATL): Satellites in Orbit and Revenues Are Far Below Expectations

Earnings Calendar

ā€¢Ā $LMT: Jul 18Ā -Ā Before Market Openā€¢Ā $IRDM: Jul 25Ā -Ā Before Market Openā€¢Ā $BA: Jul 26Ā -Ā Before Market Openā€¢Ā $GD: Jul 26Ā -Ā Before Market Open

ā€¢Ā $NOC: Jul 27 -Ā Before Market Openā€¢Ā $RKLB: AugĀ 8Ā -Ā After Market Close

*Company confirmed dates only.