ASTRA is an exciting Space company backed by Bill Gates that recently completed its merger with Holicity. They are a launch vehicle company that sends payloads to space. This generally will take the form of satellites either for commercial or research purposes.
They already have **50** launches under contract and an example is the [*NASA TROPICS* mission](https://astra.com/news/nasa-tropics-astras-first-earth-science-mission/) and the *[Planet Payloads](https://spacewatch.global/2021/05/astra-launches-planet-labs-and-expands-payload-capacity/)* mission
**WHY NOW THOUGH??**
ASTRA just [merged](https://www.businesswire.com/news/home/20210629005877/en/Holicity-Board-Urges-Stockholders-to-Vote-TODAY-in-Support-of-Business-Combination-with-Astra-Space-Inc.) with Holicity last week and has already started to run up. They also have a significant catalyst coming in announcing a summer rocket launch. Currently their[ launch schedule](https://www.rocketlaunch.live/?filter=astra-space) shows four launches in 2022 but they have announced they have plans for a summer launch but a date is pending. This should be announced in the next couple of weeks and will bring a lot of attention to the company.
They have already started to see some heavy volume and start a run up. There isn’t much selling pressure so we’re seeing consolidation while MMs load up on shares.
[Option volume](https://finance.yahoo.com/quote/ASTR/options?date=1626393600&p=ASTR) is pretty decent as well. What I like to see is not just significant volume for one strike date but August has fairly decent volume as well
**BUT ALL OF THIS IS SPECULATION, SO WHATS THE PROSPECTUS SAY?**
As a new company that just successfully merged, we have to take a look at the deal.
*Notwithstanding the foregoing, the Founder Shares will be released from the lock-up if (1) the closing price of the Company’s Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination or (2) the Company consummates a transaction after the initial Business Combination which results in the stockholders having the right to exchange their shares for cash, securities or other property.*
Above is from their annual report, saying that they have to wait 6 months from the merger date to sell their shares and even then the stock price has to be at least above $12 for 30 days so the current entry is fairly safe long term.
Above is their prospectus where they say there will be only 30 million shares able to be traded until the lockup is over.
*On August 7, 2020, the Company consummated the Initial Public Offering of 27,500,000 Units at $10.00 per Unit, generating gross proceeds of $275.0 million.* – They then chose to sell another 2.5 million out of 4.1 million they are allowed to sell additionally.
🚀**POSITIONS and more SPECULATION**🚀
500 shares at 12.43 and 15 7/16 calls at 15$ strike and 20 8/20 calls at 15$ strike. I think we’ll continue to run up until the end of the summer and ASTR finds a price its comfortable at. My price target is 30$ for the short term but beyond 2021 the ceiling is incredibly high.
Edit: 500 shares idk why it’s cut off 😉