Rocket Maker Astra to Go Public Through Merger With a SPAC (1)

The next chapter of “SPACs in Space” has been written.

Astra, a maker of small rockets used to send satellites into orbit, plans to reveal Tuesday an agreement to go public by merging with Holicity Inc., a special purpose acquisition company run by telecommunications legend and billionaire Craig McCaw. The deal will value Astra at $2.1 billion and let the company tap into $300 million raised by Holicity, along with another $200 million from funds managed by BlackRock Inc.

If the deal closes as expected in the second quarter, Astra will trade under the ticker symbol ASTR on the Nasdaq ...