Astra Rocket 3.2 launch
Astra's Rocket 3.2 vehicle lifts off from Kodiak Island, Alaska, Dec. 15.

Small launch vehicle developer Astra will go public by merging with a special-purpose acquisition company (SPAC), providing the company with nearly $500 million in cash and valuing it at more than $2 billion.

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Jeff Foust has more than a decade of experience writing about space policy, entrepreneurial ventures and regulatory affairs. In 2001, he established spacetoday.net to aggregate and summarize the day's space-related news stories. In 2003, he started The...