Holicity, Inc. (HOL) Completes Astra Deal
by Nicholas Alan Clayton on 2021-06-30 at 5:02pm

Holicity, Inc. (NASDAQ:HOL) announced that it has completed its combination with space venture Astra and following a shareholder approval vote earlier today.

In a subsequent 8-K filing, Holicity noted that just 10,981 shares were redeemed in connection with the vote, removing a negligible sum from its $200 million trust. This good result was not a complete surprise as the SPAC traded above its trust value north of $11 throughout June 28, the day of its redemption deadline.

Astra shares and warrants are set to begin trading on the Nasdaq tomorrow, July 1, under the symbols “ASTR” and “ASTW”, respectively.

Holicity and Astra initially announced their $2.1 billion deal on February 2. Astra has developed a satellite-delivery rocket system that reached space successfully in December 2020 and aims to begin commercial launches in 2021.

On June 7, Astra announced it had acquired electric rocket engine-maker Apollo Fusion for in a $30 million in post-combination Astra shares and $20 million in cash, with earnouts worth up to $95 million. Astra is expected to use the the engines in its own rocket system to expand beyond low Earth orbit to medium Earth orbit and geosynchronous levels. The Apollo engines could even enable Astra to launch lunar orbit missions.

Astra is part of a string of deals by SPACs in space aiming to hit the de-SPAC finish line this summer. AST Spacemobile (NASDAWQ:ASTS)’s combination with New Providence was the first space venture to make it all the way to the public markets via a SPAC since Virgin Galactic (NYSE:SPCE) in 2019.

Waiting in the wings now are Osprey (NYSE:SFTW) looking to close its February deal with Black Sky, Vector (NASDAQ:VACQ)’s deal with Rocket Lab, as well as Stable Road (NASDAQ:SRAC)’s revised merger with  Momentus. Genesis Park (NYSE:GNPK) may also bring home its combination with Redwire before the summer is out.


ADVISORS

  • BofA Securities acted as lead placement agent on the PIPE, financial advisor and capital markets advisor to Holicity.
  • PJT Partners acted as sole financial advisor to Astra and also as a placement agent on the PIPE.
  • Winston & Strawn LLP acted as legal advisor to Holicity. Ropes & Gray LLP acted as legal advisor to Astra

 

Holicity, Inc. (HOL) Completes Astra Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-08 at 8:11pm

Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...

by Nicholas Alan Clayton on 2025-07-08 at 12:36pm

M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-08 at 8:18am

At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...

by Nicholas Alan Clayton on 2025-07-07 at 9:05am

Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...

by Nicholas Alan Clayton on 2025-07-07 at 8:50am

Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved