Ad Astra Rocket Company, working on the development of a plasma engine, announced the change in its share price, which rose from $ 7 to $ 10.
The change, was defined by the Board of Directors of the company based on the company advances in technology for power generation from hydrogen, Franklin Chang said in a statement of “significant event”.
The new price is effective for window placements (direct sales) to be carried out since yesterday. Ad Astra is authorized by the Superintendent of Securities to the public offering of 75 million shares, with a par value of $ 0.01.
However, market prices for each share of the company have risen to around $ 10.
According to the latest statement of “material fact”, between 28 May and 12 September this year, 108,262 common shares were placed at a price of $ 7 per share.
Ad Astra Rocket Company was founded in 2005 by the Costa Rican ex astronaut Franklin Chang, and its business is focused on developing a propulsion technology based on the plasma: engine called VASIMR.
Posted by Costa Developers
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