Wolf Popper LLP Is Investigating Astra Space, Inc. For Potential Breaches of Fiduciary Duty

New York, New York--(Newsfile Corp. - March 23, 2022) - Wolf Popper LLP is investigating claims on behalf of investors in Astra Space, Inc. (NASDAQ: ASTR) concerning Astra's merger with the special purpose acquisition company (or "SPAC") Holicity Inc. and who held Astra/Holicity shares continuously since June 28, 2021, or who sold their Astra shares after June 28, 2021, for less than the $10.00 per-share redemption amount.

On February 2, 2021, Holicity announced it was going to merge with Astra in a $2.1 billion deal. Astra built rockets that will carry satellites into orbit. The press release said Astra was expecting to deliver customer payloads by the summer of 2021 and begin monthly launches by the end of 2021. The merger closed on June 30, 2021, after Holicity shareholders voted to approve the deal.

Early in the trading day on December 29, 2021, Kerrisdale Capital Management, LLC issued a report on Astra alleging that i) Astra's forecast of daily launches by 2025 was significantly overstated, ii) Astra was playing in a crowded field, iii) a large number of satellites planning to be launched through the end of the decade already have launch partners, iv) the market is moving towards larger capacity rockets and Astra is trying to catch up, along with saying Astra faced other issues. Before this news even came out, Astra's stock price had already fallen from $21.25 per share to $7.71, then it fell to $6.61 after the report and is currently trading at $4.55 per share.

Wolf Popper is investigating potential claims on behalf of investors in Astra concerning the transaction. Astra shareholders seeking more information about the transaction or Wolf Popper's investigation can contact Carl Stine at (212) 759-4600 or cstine@wolfpopper.com.

Wolf Popper has extensive experience representing investors in mergers and acquisition investigations and lawsuits. Eight Wolf Popper attorneys were named Super Lawyers or Rising Stars in the 2021 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area for the years 2014-2020. View Wolf Popper attorney biographies at www.wolfpopper.com.

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