Masten Space Systems was acquired by Astrobotic after filing for bankruptcy last July
After filing for bankruptcy last July, TechCrunch reported that Astrobotic had acquired Masten Space Systems for a $4.5 million bid in Delaware bankruptcy court.
(Photo: Bill Ingalls/NASA/Getty Images)
BAIKONUR, KAZAKHSTAN – APRIL 09: In this image furnished by NASA, the Soyuz MS-18 rocket is launched with NASA Expedition 65 astronaut Mark Vande Hei, Roscosmos cosmonauts Pyotr Dubrov and Oleg Novitskiy at the cosmodrome of Baikonur on April 9, 2021 in Baikonur, Kazakhstan. The Soyuz MS-18 spacecraft will send NASA astronaut Mark Vande Hei and Russian cosmonauts Pyotr Dubrov and Oleg Novitskiy on a mission to the International Space Station.
With Astrobotic’s expansion, they will be entitled to own MSS’s space technology portfolio, including vertical liftoff, landing rocket and propulsion test centers.
The merger of the two companies ensued, resulting in nearly 200 employees. Founder and Chief Technology Officer David Masten will join the Astrobotic team as Chief Engineer.
Continuity with the new owner
According to the company, suborbital flight operations will continue at Masten’s Mojave headquarters while continuing development of the Xogdor rocket, which is Masten’s newest rocket. Government officials and potential buyers can use it to ensure that technologies are validated.
Along with the two, Space News reported that Masten Propulsion Test Beds would continue operations by joining another company. Astrobotic chief executive John Thornton said in a statement that these are national strengths for the space industry. He added, “We are excited to operate and expand these services for businesses, governments and space agencies globally.”
A series of lunar landers were also in preparation before the acquisition. Thanks to this, two landers will be sent to the Moon under contract and with the authorization of NASA. According to Astrobotic, development of this project will continue under their ownership, and according to Parabolic Arc, it includes “innovations in lunar night survival, instant landing pad construction, lunar water extraction technology and lunar infrastructure construction technologies”.
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September 6 was the date for the auction of Masten’s assets held at Delaware Bankruptcy Court. Besides Astrobotic, which acquired the company, Intuitive Machines offered $2.7 million while Impulse Space offered $750,000.
The company’s bankruptcy filing began its process on July 28 this year, at the request of the CEO. According to him, the company has an estimate of 50 to 99 creditors, 10 to 50 million dollars in assets and 10 to 50 dollars in liabilities.
The company’s creditors were also listed, namely SpaceX for $4.6 million, Psionic for $2.7 million, Astrobotic for $2.7 million and NuSpace for $1.7 million. Sixteen other creditors were also listed other than these four mentioned.
A statement from TechCrunch was sent regarding this and stated that “We expect the matter to move forward expeditiously to minimize expenses. We expect this process to allow Masten to continue operations and deliver value.” to its customers and to the space industry.”
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Written by Inno Flores
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