Initial ShareIntel Analysis Identifies Trade Imbalances
Astra Space, Inc. (“Astra”) (Nasdaq: ASTR) today announced that it has taken initial steps to mitigate potential illegal short selling in its shares, including providing notices to the respective Chief Compliance Officers of certain broker-dealers identified in analysis performed by ShareIntel-Shareholder Intelligence Services, LLC (“ShareIntel”).
As announced on March 10, 2023, Astra engaged ShareIntel to help uncover and address potential trading abnormalities in an effort to ensure that those brokering and trading Astra’s stock are compliant with FINRA and SEC rules and regulations governing short selling.
ShareIntel’s analysis has identified trade imbalances in the trading of Astra’s shares, which are potentially material relative to Astra’s public float and average trading volume. These imbalances may be the by-product of illegal trading activity and may be an indication that certain individuals and/or companies may have sold (but not delivered) a significant number of shares of Astra’s Class A common stock.
“Based on the findings of ShareIntel’s analysis, we are deeply concerned that Astra may have been the target of a market manipulation scheme involving illegal short selling. Astra is committed to protecting our investors and maximizing shareholder value and we will take all actions necessary to ensure that Astra is not the target of market manipulation,” said Chris Kemp, Founder, Chairman and CEO.
“ShareIntel tracks and monitors critical broker-dealer and shareholder movements,” said David Wenger, President and Chief Executive Officer of ShareIntel. “We look forward to continuing efforts to help Astra identify parties to potential abusive short selling, implement action plans to mitigate such activity, and help maximize shareholder ownership transparency.”
About Astra Space, Inc.
Astra’s mission is to improve life on Earth from space® by creating a healthier and more connected planet. Today, Astra offers one of the lowest cost-per-launch dedicated orbital launch services of any operational launch provider in the world, and one of the industry’s first flight-proven electric propulsion systems for satellites, Astra Spacecraft Engine™. Astra delivered its first commercial launch to low Earth orbit in 2021, making it the fastest company in history to reach this milestone, just five years after it was founded in 2016. Astra (NASDAQ: ASTR) was the first space launch company to be publicly traded on Nasdaq. Visit astra.com to learn more about Astra.
About ShareIntel-Shareholder Intelligence Service, LLC
SIS is a patented compliance driven SAAS retained by public companies to track shareholder ownership, monitor critical broker-dealer and shareholder movement. DRIL-Down™ identifies participants to abusive and illegal short selling providing actionable intelligence. www.shareintel.com
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