A close look at Astra’s LV0008 rocket at LC-46 in Cape Canaveral, Florida.
Johannes Kraus / Astra
Embattled small rocketmaker Astra announced Friday that it had received a delisting warning from the Nasdaq after its shares spent 30 consecutive days below $1 a share, in violation of the exchange’s requirements.
According to a regulatory filing, the company has 180 days to raise its share price or face delisting.
Astra shares closed at 59 cents a share on Friday, down more than 90% this year and more than 95% below its 52-week high of $13.58. The company debuted on the Nasdaq in July 2021 through a merger with a special purpose vehicle.
Astra did not immediately return Friday’s request for comment on the delisting warning.
The rocket maker has been saddled with quarterly losses and said in August it would pause flights for the rest of the year.
“Our ability to begin commercial launches in 2023 depends on the success of our test flights,” CEO Chris Kemp said during the company’s second-quarter conference call.
Astra also faces a Federal Aviation Administration investigation into a failed rocket launch in June that was carrying a pair of satellites for NASA’s TROPICS-1 mission. The company was unable to get the satellites into orbit, and NASA shelved the remaining two launches it had contracted from Astra.
– CNBC’s Michael Sheetz contributed to this report.