Astra CEO Chris Kemp speaks throughout the corporate’s headquarters all the way through the corporate’s “Spacetech Day” on Might 12, 2022.
Brady Kenniston / Astra
Spacecraft engine producer and small rocket builder Astra introduced on Friday that the corporate is investigating “attainable unlawful quick promoting” amongst shareholders of its commonplace inventory.
The corporate stated it employed monetary tool company ShareIntel to lend a hand with its evaluate of “suspicious, aberrant or strange buying and selling task.”
“Astra stays dedicated to protective our buyers and maximizing stockholder price,” Chairman and CEO Chris Kemp stated in a commentary.
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The announcement comes as Astra faces a delisting closing date issued by way of the Nasdaq remaining yr. With stocks at 47 cents as of Friday’s open, Astra has till April 4 for its inventory worth to go back above $1 a percentage for a minimum of ten consecutive industry days, or it might obtain a Nasdaq delisting understand. If that occurs, Astra is in a position to enchantment the delisting earlier than a Nasdaq hearings panel.
Astra is anticipated to record fourth-quarter effects after marketplace shut on Mar. 30.