EX-99.(C)(2) 2 d681503dex99c2.htm EX-99.(C)(2) EX-99.(C)(2)

EXHIBIT (c)(2) August 23, 2023 Project Star DISCUSSION MATERIALS CONFIDENTIAL


I. Investor Outreach Log CONFIDENTIAL 2


8 POTENTIAL INVESTORS 8 UNDER NDA 6 PASSED Process Summary PJT kicked off outreach on August 8, and 8 parties have expressed interest. Lev Fin Alts Credit CONFIDENTIAL 3


II. Illustrative Strategic Alternatives for Astra CONFIDENTIAL 4


Option 1: Option 2: Option 3: Illustrative Strategic Sale of WholeCo to a Strategic Take Private of WholeCo Sale of ASE Alternatives for a) Cash Consideration a) Take private with simultaneous a) Sell controlling stake divestiture of Launch – Immediate liquidity – Loss of control of strategic direction Astra – Opportunity for insiders to roll – Potential tax implications – Astra RemainCo may not be able to – No more public company costs consolidate ASE financials b) Stock Consideration – Additional complexity with multiple b) Sell all of ASE for Cash – Astra shareholders retain upside in parties the NewCo – Cash can fund operations of Launch b) Take private with subsequent – Potential for deferred shareholder – Proceeds could be used for return of divestiture of Launch level tax capital or to partially fund a go-private – Opportunity for insiders to roll at a later date – No more public company costs – Potential tax implications – Buyer runs subsequent divestiture c) Sell all of ASE for Stock process – Potential upside depending on buyer – No cash proceeds to fund the business – Potential for deferred shareholder level tax CONFIDENTIAL 5 Potential Buyers Description


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In report nor should it be construed as such. connection with our capital raising services in Canada, PJT Partners relies on the international dealer exemption pursuant to subsection 8.18(2) of National This document may include information from the S&P Capital IQ Platform Instrument 31-103 Registration Requirements. Please see Service. Such information is subject to the following: “Copyright © 2023, S&P https://pjtpartners.com/regulatory-disclosure for more information. Capital IQ (and its affiliates, as applicable). This may contain information Copyright © 2023, PJT Partners LP (and its affiliates, as applicable). CONFIDENTIAL 6