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.

masten space systems has been acquired by astrobotic after filing for bankruptcy last july

(Photo : Bill Ingalls/NASA/Getty Images)
BAIKONUR, KAZAKHSTAN – APRIL 09: In this handout image provided by NASA, The Soyuz MS-18 rocket is launched with Expedition 65 NASA astronaut Mark Vande Hei, Roscosmos cosmonauts Pyotr Dubrov and Oleg Novitskiy at the Baikonur Cosmodrome 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 have the right to own MSS’s portfolio of space technologies, including vertical take-off, landing rocketry, and propulsion test centers.

Following these is the merging of the two companies, resulting in almost 200 employees. Founder and Chief Technology Officer David Masten will join the Astrobotic team as a Chief Engineer.

Continuity with New Ownership

As per the company, suborbital flight operations will be continued in Masten’s headquarters in Mojave while also continuing the Xogdor rocket’s development, which is the newest rocket of Masten’s. Government officials and potential buyers can use this to make sure that the technologies are validated.

Along with the two, Space News reported that Masten’s propulsion test stands would continue operations as it joins another company.  Astrobotic Chief Executive Officer John Thornton said in a statement that these are national assets for the space industry. He added, “We are excited to operate and expand these services for companies, governments, and space agencies internationally.”

A series of lunar landers were also in the works before the acquisition. Through this, two landers will be sent to the moon under contracts and permission from NASA. As per Astrobotic, the development of this project will continue under their ownership, and according to Parabolic Arc, it includes “innovations in lunar night survival, instant landing pads construction, lunar water mining technology, and lunar infrastructure construction technologies,”

Other Bidders

Last September 6 was the auction date for Masten’s assets that was held at the Delaware Bankruptcy Court. Aside from Astrobotic, the one who acquired the company, Intuitive Machines bid $2.7 million while Impulse Space bid $750,000.

Bankruptcy Process

The filing of the company’s bankruptcy started its process on July 28 this year which was requested by the CEO. According to him, the company has an estimate of 50-99 creditors, $10-$50 million in assets, and $10-$50 liabilities.

Creditors of the company have also been listed, which are SpaceX for $4.6 million, Psionic for $2.7 million, Astrobotic for $2.7 million, and NuSpace for $1.7 million. Sixteen more creditors have also been listed other than these four mentioned.

A statement from TechCrunch was sent regarding this and it states that “We expect the case to move quickly in order to minimize expenses. We are hopeful that this process will enable Masten to continue operations and deliver value for its customers and the space industry,”

This article is owned by TechTimes

Written by Inno Flores

Keyword: Masten Space Systems has been Acquired by Astrobotic After Filing for Bankruptcy last July

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