Astra Space Successfully Collects Additional Funds Of IDR 41.8 Billion

Astra received additional funds from two investors (photo: dock. Astra)

JAKARTA Astra Space, an Space launcher vehicle company, managed to raise US$2.7 million (Rp41.8 billion) from investors through a long-term funding deal.

The funds have been submitted to the United States Securities and Exchange Commission (SEC). From the Spacenews report, Astra Space said that its company had completed subsequent financing with the help of two investors, namely JMCM Holdings LCC and Sherpa Ventures Fund II.

All the financing that has been paid off includes loan modifications, new loans worth 3 million (Rp46.4 billion), and stock wargan sales. Unfortunately, Astra did not provide detailed information regarding the long-term financing agreement with the two investors.

In its initial financing, Astra was known to have earned 13.4 million US dollars (Rp207 billion) on Monday, November 6 from JMCM Holdings LCC and Sherpa Ventures Fund II through a non-binding term sheet.

Through this contract, Astra received a loan that matured on November 17. However, both investors extended the loan for up to four days while dealing with the larger sheet funding.

Spacenews said that Astra founders, Chris Kemp and Adam London, were trying to make the company's value 1.50 US dollars (IDR 23 thousand) per share. However, the company has not provided an update on the proposal.

Most likely, the submission proposal for the value of the company is being evaluated by the SEC. When the proposal was submitted, they offered a premium of 100 percent of the share value, causing the share price to rise to 1.57 US dollars (Rp24.3 thousand).