Astra Space Founders Close Buyout Deal for Ailing Rocket Maker

Astra Space Inc.’s take-private deal with its founders has been finalized, the company said on Thursday, capping the rocket launch company’s descent from blank-check darling to delisting in three years.

The rocket launch company’s valuation peaked at $3.9 billion in 2021, the year it went public, and was worth about $12.2 million as of end-March, according to data compiled by Bloomberg.

Under the terms of the deal, Astra said Chief Executive Officer Chris Kemp and Adam London, its technology chief, will acquire the company’s outstanding shares for 50 cents per share in cash, below the stock’s final ...