Astrotech Corporation has filed a prospectus supplement with the Securities and Exchange Commission to offer and sell up to $50 million of its common stock. The offering is substantial relative to the company's current market capitalization of $15.22 million. The shares will be sold from time to time under an existing agreement with H.C. Wainwright & Co., LLC, which acts as the sales agent.
According to the SEC filing, this new prospectus supplement replaces and supersedes a previous supplement dated June 3, 2026. Under the prior supplement, Astrotech had sold 258,856 shares of common stock for gross proceeds of approximately $7.9 million, before commissions and expenses.
The capital raise appears timely, as the company is quickly burning through cash with negative free cash flow of $14.73 million over the last twelve months. The offer and sale of shares are being made pursuant to a shelf registration statement on Form S-3, which was declared effective on July 7, 2026.
Recent Developments
Astrotech has submitted a proposal to NASA under the Commercial Lunar Payload Services 2 program, seeking approximately $20 million for Phase 1 of a lunar technology demonstration program. The company's Board of Directors has also approved a potential sale process for its 1st Detect Corporation subsidiary, which develops the TRACER 1000 explosives and narcotics trace detection platform.
