Brief: Astra Space Inc Says As Of March 10, Company's Cash Is Held On Deposit With SVB

Astra Space

13/03/2023 13:59

March 13 (Reuters) - Astra Space Inc  ASTR.O :
    * ASTRA SPACE INC - AS OF MARCH 10, COMPANY'S CASH IS HELD
ON
DEPOSIT WITH SVB
    * ASTRA SPACE- CASH REPRESENTS ABOUT 15% OF CO'S CURRENT
CASH,
CASH EQUIVALENTS, MARKETABLE SECURITIES, WHICH STATEMENT SAID CO
WILL HAVE ACCESS TO STARTING MARCH 13
    * ASTRA SPACE INC - CO’S CASH EQUIVALENTS AND MARKETABLE
SECURITIES ARE HELD IN SECURITIES ACCOUNTS WITH AFFILIATE OF SVB
    * ASTRA SPACE - DOES NOT KNOW IF, TO WHAT EXTENT CLOSURE OF
SVB
WILL AFFECT CO’S ABILITY TO ACCESS ITS CASH, TO ACCESS, SELL ITS
CASH EQUIVALENTS, MARKETABLE SECURITIES
    * ASTRA SPACE- DOES NOT KNOW IF, TO WHAT EXTENT CLOSURE OF
SVB
WILL IMPACT LETTERS OF CREDIT SECURING CO’S SECURITY DEPOSIT
OBLIGATIONS TO ITS PRIMARY LANDLORDS

Further company coverage:  ASTR.O 

 ((Reuters.Briefs@thomsonreuters.com;))