PT Astra International Tbk (ASJA.F)

Astra Space founders propose buyout at fraction of 2021 valuation

Astra Space founders Chris Kemp and Adam London proposed to acquire the small rocket maker once valued at more than $2 billion for $27.8 million, according to a regulatory filing on Thursday. The offer price of $1.50 per share represents a premium of about 103%, based on the stock's closing price on Wednesday. The company's shares, which surged about 80% on Thursday, have fallen 99.6% since Astra went public in 2021 after a few mission failures and delays in test flights in an industry dominated by Elon Musk's SpaceX.