Articles from Astrotech Corporation

AUSTIN, Texas, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) ("Astrotech" or the "Company") announced the resignation of its Chief Financial Officer, Jaime Hinojosa, effective February 14, 2025.   Mr. Hinojosa will continue to serve in the CFO role until February 14, 2025, and after that time will provide transition services to the Company on a consulting basis through June 30, 2025. In connection with this development, the Company and its Board of Directors have appointed Ryan Polk to serve as interim Chief Financial Officer.

AUSTIN, Texas, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) announced today that its 1st Detect subsidiary has received a purchase order for its TRACER 1000™ explosive trace detectors (ETDs) from Intuitive Research and Technology Corporation (INTUITIVE®) a TSA contractor. The purchase order is valued at $429K and should be recognized in FY2025.

AUSTIN, Texas, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) ("Astrotech" or the "Company") and its wholly-owned subsidiary, 1st Detect Corporation, announced that the Company has been awarded   research and development (“R&D”) contract 70RSAT24CB0000015 (“Contract”) with the U.S. Department of Homeland Security (“DHS”) to research, develop and mature the TRACER 1000 for DHS next generation explosives trace detection (“ETD”).

Austin, Texas, June 20, 2024 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) ("Astrotech" or the "Company") and its wholly-owned subsidiary, 1st Detect Corporation, announce that the U.S. Transportation Security Administration (“TSA”) has approved the TRACER 1000™ for the Air Cargo Security Technology List (“ACSTL”). This action advances the TRACER 1000 to Stage II testing, whereupon successful completion of field testing will move it to the “Qualified” section on the ACSTL. This approval was awarded after the TRACER 1000 was thoroughly assessed by the TSA QG2 Technical Review Panel (“TRP”). Regulated parties in the U.S., such as the air cargo market, which are required to utilize the ACSTL can now purchase the TRACER 1000.

AUSTIN, Texas, June 13, 2024 (GLOBE NEWSWIRE) -- AgLAB, Inc., (“AgLAB”) a subsidiary of Astrotech Corporation (NASDAQASTC) (“Astrotech”, or the “Company”), and SC Labs announced today that the companies will be jointly marketing the AgLAB 1000-D2TM mass spectrometer and the AgLAB Maximum Value Process testing method (“AgLAB MVP”), to SC Labs customers. This comes with the companies entering into a master lease agreement.

Astrotech Announces Listing to the GSA as an Approved United States Government Vendor

The TRACER 1000 Narcotic and Explosives Trace Detector is a rugged mass-spectrometer capable of rapid detection of trace levels of narcotic or explosive compounds in seconds.

The TRACER 1000™ is a mass spectrometry-based trace analyzer; its detection library now includes narcotics such as fentanyl, heroin, and cocaine.  

Astrotech Corporation Announces Chemical Process Control System

Astrotech’s proven AgLAB Maximum Value Process™ delivers 32% average increase in revenue

AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) announced today that its 1st Detect subsidiary has accepted another significant purchase order for seven of its TRACER 1000™ explosives trace detectors (ETDs), for an airport security checkpoint. The systems will be deployed in a European airport in Romania.

Determines Proposal is Opportunistic, Significantly Undervalues the Company, Does Not Reflect the Company’s True Intrinsic Value or Prospects and is Not in the Best Interests of Stockholders

 AUSTIN, Texas, June 27, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) announced today that it has received an unsolicited, non-binding proposal from BML Investment Partners, L.P. (“BML”) to acquire all of the outstanding shares of common stock of the Company for cash consideration of $17.25 per share. The non-binding proposal states that BML holds 13% of the Company’s outstanding shares. The non-binding proposal is not subject to a financing condition but is subject to limited confirmatory due diligence and is based on the Company having at least $35 million of cash and cash equivalents as of the potential closing date of the proposed acquisition, net of any tail and closing costs, and not having issued any shares pursuant to its at-the-market offering agreement dated June 16, 2023 (the “ATM Agreement”). Effective June 27, 2023, the Company terminated the ATM Agreement in accordance with its terms.

AUSTIN, Texas, May 09, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) (the “Company”), is announcing today that its subsidiary, AgLAB, Inc., confirmed the results from field trials using the AgLAB 1000-D2TM mass spectrometer and the Maximum Value ProcessTM testing method (“AgLAB MVP”). AgLAB MVP is designed to improve yields and bottom-line profits for hemp (CBD) and cannabis (THC) producers of distilled oils.

AUSTIN, Texas, May 08, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQASTC) announced today that its 1st Detect subsidiary has received a 17 unit order for its TRACER 1000™ explosives trace detector (ETD). The systems will be deployed in Europe with deliveries scheduled to be fulfilled over the remainder of this calendar year. We expect this sale will expand 1st Detect’s footprint to 22 sites across 14 countries in Europe and Asia.

AUSTIN, TX, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) announced today that its Board of Directors has appointed Thomas B. Pickens III to serve as its Chief Technology Officer (“CTO”) in conjunction with his current duties as Chief Executive Officer.

AUSTIN, TX, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) announced today that it has increased the size of its Board of Directors from four to five directors and has appointed Bob McFarland as a director of the Company. Mr. McFarland brings to Astrotech’s Board extensive executive management experience with domestic and international enterprises, with a focus on information technology.

Designed to ensure fair and equal treatment of all investors

AUSTIN, Texas, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”), a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology, today announced that it has received written notice from The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with Nasdaq’s minimum bid price listing requirement. The Company has satisfied the terms for continued listing on the Nasdaq Capital Market by complying with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2). Accordingly, Nasdaq has advised that the matter is now closed.

AUSTIN, Texas, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”), a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology, today announced that it has filed a third amendment to its Certificate of Incorporation to effect a reverse stock split of its common stock at a ratio of 1-for-30 (the “Charter Amendment”). The reverse stock split will become effective at 12:01 a.m. Eastern Time on December 5, 2022. Astrotech’s common stock is expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market when the market opens on December 5, 2022, under the existing trading symbol “ASTC.” The reverse stock split is primarily intended to enable the Company to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market. The new CUSIP number for the Company’s common stock following the reverse stock split will be 046484309.

The BreathTest-1000 TM

Potential for Increased Customer Yields

Astrotech Corporation (Nasdaq: ASTC) (the “Company”) announced its plans to hold its fiscal year 2022 annual meeting of stockholders (the “2022 Annual Meeting”) on Tuesday, November 15, 2022. The 2022 Annual Meeting will be held at 9:00 a.m. Central Time. Current plans are for the meeting to be in person in Austin, Texas at the Company’s main office. The Company anticipates sending proxy materials for the annual meeting to stockholders in September 2022.

Astrotech Corporation (Nasdaq: ASTC) announced today that it has appointed Jim Becker to its Board of Directors. Mr. Becker brings to Astrotech’s Board extensive leadership, with a focus on strategic market growth and expansion, and business process improvements and scaling, along with public speaking and corporate management skills. He will serve on each of the compensation committee, the corporate governance and nominating committee, and the audit committee of the Board of Directors.

Astrotech Corporation’s (NASDAQASTC) subsidiary, BreathTech Corporation, announced today that it has amended its Joint Development and Option Agreement with Cleveland Clinic to include additional areas of focus. Under the amended agreement, ongoing work around development of a rapid breath test for COVID-19 will be expanded to utilize BreathTech’s core mass spectrometry technology to screen for a variety of diseases spanning the entire body. The project will focus on detecting bloodstream infections, respiratory infections such as influenza types A and B and respiratory syncytial virus (RSV), carriage of Staphylococcus aureus, and Clostridioides difficile (C. diff) infections.

Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the third quarter of fiscal year 2022, which ended March 31, 2022.

Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the second quarter of fiscal year 2022, which ended December 31, 2021.

Astrotech Corporation (Nasdaq: ASTC) has hired Dr. Karim Sirgi, MD, MBA and FCAP as the Chief Science Officer of subsidiary BreathTech Corporation in preparation of human trials with Cleveland Clinic for its BreathTest-1000™ to help in the battle against COVID-19 and its variants.

Astrotech Corporation (Nasdaq: ASTC) (the “Company”) announced its plans to hold its fiscal year 2021 annual meeting of stockholders (the “2021 Annual Meeting”) on Friday, March 25, 2022. The 2021 Annual Meeting will be held at 9:00 A.M. Central Time. Current plans are for the meeting to be in person in Austin, Texas at the AT&T Hotel and Conference Center. The Company anticipates sending proxy materials for the annual meeting to stockholders in February 2022.

Astrotech Corporation (Nasdaq: ASTC) now intends to actively pursue strategic and accretive acquisition opportunities. Tom Wilkson, as Lead Independent Director, will focus on identifying strategic acquisitions for Astrotech Corporation and its subsidiaries.

Astrotech Corporation (Nasdaq: ASTC) reported its financial results for the first quarter of fiscal year 2022, which ended September 30, 2021.

Astrotech Corporation (Nasdaq: ASTC) reported its financial results for the fiscal year ended June 30, 2021.

Astrotech Corporation (NASDAQASTC) announced today that its 1st Detect subsidiary has secured an important landmark purchase order for its TRACER 1000™, representing the first units to be deployed at an airport security checkpoint. Including prior sales to worldwide cargo facilities, the TRACER 1000 explosives trace detector (ETD) will now be operating in fifteen locations in ten countries throughout Europe and Asia.

Astrotech Corporation (NASDAQASTC) announced today that its AgLAB Inc. subsidiary has hired Joe Levinthal, a hemp and cannabis industry veteran and an expert in mass spectrometry, as its Chief Science Officer, to help lead AgLAB’s product development team.

Astrotech Corporation (NASDAQASTC) reported its financial results for the third quarter of fiscal year 2021, which ended March 31, 2021.

Astrotech Corporation (NASDAQASTC), announced today the closing of its previously announced underwritten public offering of 24,885,828 shares of its common stock, which included 3,245,977 shares sold pursuant to the full exercise of the underwriter’s option to purchase additional shares, at a price to the public of $1.50 per share, less underwriting discounts and commissions. The gross proceeds to the Company from the offering were approximately $37.3 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech.

Astrotech Corporation (NASDAQASTC), today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 21,639,851 shares of common stock of the Company at a price to the public of $1.50 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.

Astrotech Corporation (NASDAQASTC), today announced that it has entered into an underwriting agreement with H.C. Wainwright & Co. under which the underwriter has agreed to purchase on a firm commitment basis 6,666,667 shares of common stock (or common stock equivalents in lieu thereof) of the Company at a price to the public of $1.50 per share (or common stock equivalent), less underwriting discounts and commissions. The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.

Astrotech Corporation’s (NASDAQASTC) subsidiary, BreathTech Corporation announced today that it has signed an Investigator-Initiated Study Agreement with the Cleveland Clinic Foundation (Cleveland Clinic). Under this agreement, BreathTech’s BreathTest-1000™ will be used to compare exhaled breath from individuals who have tested positive on a COVID-19 polymerase chain reaction (PCR) test with that from subjects who have had a negative COVID-19 PCR test. The goal of the pilot study will be to analyze different volatile organic compounds (VOCs) from the breath to evaluate the correlation with different disease states.