Astrea Acquisition Corp. (ASAX) Reminds Investors It Is Not Astra Space (ASTR)
by Nicholas Alan Clayton on 2022-02-11 at 9:06am

Astrea (NASDAQ:ASAX) sent out the sort of reminder today that it likely would not have thought necessary – that it is a different company from space venture Astra (NASDAQ:ASTR), which itself de-SPAC’d in July. Astra was the combination company of Holicity, Inc.

Astra (the space company) suffered a -26% drop in Thursday trading after one of its rockets failed to deploy its payload of satellites following launch and is down a further -5% in the premarket. Similarly-named Astrea, which intends to combine with HotelPlanner and Reservations.com, also took a -16.6% hit yesterday and wanted to make sure investors knew what they were dumping.

While the thought of investors panic-selling the wrong company based on an event is amusing, it is also possible that some of Astrea’s volume is due to the fact that its shareholders went “ex-redemption” yesterday, since it had until today to make their redemption decisions ahead of a completion vote on Tuesday. Astra is set to complete its combination with HotelPlanner and Reservations.com following this special meeting on February 15.

Whatever the cause of Astrea’s sudden downturn, the clarification likely cannot hurt. If these shares were sold in error it makes for a really unfortunate timing of events in an already difficult SPAC environment.

Astrea originally announced its $567 million deal with HotelPlanner and Reservations.com on August 10. West Palm Beach, Florida-based HotelPlanner provides an online hotel-booking platform and counts event-booker Meetings.com among its portfolio. Reservations.com booked over 1 million hotel stays on its site in 2019.

 

Astrea Acquisition Corp. (ASAX) Reminds Investors It Is Not Astra Space (ASTR)
Recent Posts
by Nicholas Alan Clayton on 2025-07-01 at 7:51pm

Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....

by Nicholas Alan Clayton on 2025-07-01 at 7:47pm

Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....

by Nicholas Alan Clayton on 2025-07-01 at 7:19pm

1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...

by Nicholas Alan Clayton on 2025-07-01 at 3:49pm

D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...

by Nicholas Alan Clayton on 2025-07-01 at 11:33am

Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved