Name: Rocket launch startup Astra is the latest space company to go public
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Rocket launch startup Astra is the latest space company to go public

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Space is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. .A California startup with dreams of just got one step closer to solidifying its future in the space transportation industry.&nbsp;Rocket maker Astra (Feb. 2) that, in the second-quarter, it will go public by merging with publicly traded Holicity.&nbsp;Formed in 2016, is working on sending its 40-foot-tall (12 meters) rocket into space, allowing its commercial customers to send their satellites into orbit. Upon completion, the deal between Astra and Holicity, a so-called special purpose acquisition company (SPAC), could value Astra at $2.1 billion. By comparison, Elon Musk's , which is not public, is currently valued at $46 billion.&nbsp;Related: Space.com Collection:Get ready to explore the wonders of our incredible universe! The "Space.com Collection" is packed with amazing astronomy, incredible discoveries and the latest missions from space agencies around the world. From distant galaxies to the planets, moons and asteroids of our own solar system, you’ll discover a wealth of facts about the cosmos, and learn about the new technologies, telescopes and rockets in development that will reveal even more of its secrets.&nbsp;CEO Chris Kemp, who served as NASA's chief technology officer for information technology from 2010 to 2011, that he "couldn't be more excited for this next chapter."&nbsp;Astra is just the latest space company to go public; the suborbital space tourism company after it merged with another SPAC. Since then, shares have risen nearly fivefold, as investors bet on the company to eventually launch space tourists and science missions to space.By going public, Astra will be able to generate the money needed to build smaller rockets in higher numbers and launch them from a variety of different locations in a faster time frame, Kemp told CNBC’s Squawk Box .&nbsp;Unlike other rocket makers, Astra's focus is on creating inexpensive (launch costs could be as low as $3 million), automated rockets that can be controlled remotely and shipped anywhere depending on what a customer needs, akin to "the FedEx of space," . While nascent, the technology was convincing enough to become one of the Defense Advanced Research Projects Agency’s (DARPA) three finalists in a two-year contest known as the Launch Challenge.&nbsp;In contrast, SpaceX has focused on launching its reusable, 23-story from four sites, most notably NASA's Kennedy Space Center in Cape Canaveral, Florida. SpaceX's cost per launch is $62 million, according to its website, but in 2020, it unveiled a tool to allow small satellite customers to use its ride-share service for as little as $1 million for 440-lb. (200 kilograms) payloads.In December, with its Rocket 3.2 launch vehicle. Just a few operators were in Kodiak, Alaska, on the ground for setting up the launch. The upper stage reached 16,106 mph (25,920 kph), which was just shy of orbital velocity, or the 17,180 mph (27,649 kph) needed to swing into orbit around Earth. Even so, the company is confident it will be able to do so after making some software tweaks, and it is looking to launch standard satellites for customers later this year.However, Astra may face stiff competition from top players in the field — notably, SpaceX and , a joint-venture between Boeing and Lockheed Martin.&nbsp;Kemp said the company has more than 50 launches lined up for customers in the coming months. However, he hinted that Astra will be much more than a small rocket-maker in the not-too-distant future, as the company seeks to build "a platform of space services that will catalyze a wave of innovation that will benefit our planet in ways unimaginable today."Space.com Collection:Get ready to explore the wonders of our incredible universe! The "Space.com Collection" is packed with amazing astronomy, incredible discoveries and the latest missions from space agencies around the world. From distant galaxies to the planets, moons and asteroids of our own solar system, you’ll discover a wealth of facts about the cosmos, and learn about the new technologies, telescopes and rockets in development that will reveal even more of its secrets.&nbsp;Space.com Collection:Get ready to explore the wonders of our incredible universe! The "Space.com Collection" is packed with amazing astronomy, incredible discoveries and the latest missions from space agencies around the world. From distant galaxies to the planets, moons and asteroids of our own solar system, you’ll discover a wealth of facts about the cosmos, and learn about the new technologies, telescopes and rockets in development that will reveal even more of its secrets.&nbsp;to keep talking space on the latest missions, night sky and more! And if you have a news tip, correction or comment, let us know at:Get breaking space news and the latest updates on rocket launches, skywatching events and more!Thank you for signing up to Space. You will receive a verification email shortly.There was a problem. Please refresh the page and try again.MORE FROM SPACE...12345

Space is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. .A California startup with dreams of just got one step closer to solidifying its future in the space transportation industry.&nbsp;Rocket maker Astra (Feb. 2) that, in the second-quarter, it will go public by merging with publicly traded Holicity.&nbsp;Formed in 2016, is working on sending its 40-foot-tall (12 meters) rocket into space, allowing its commercial customers to send their satellites into orbit. Upon completion, the deal between Astra and Holicity, a so-called...

Rocket launch startup Astra is the latest space company to go public

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