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New Bankruptcy Document Chronicles Masten Space Systems’ Failed Efforts to Sell Company, Inability to Raise Money
A spacecraft creates its own landing pad using the in-Flight Alumina Spray Technique system. (Credit: Masten Space Systems)

Updated on 8/12/2022 at 1:40 p.m. with information about Astrobotic Technology’s loan to Masten and initial bid for the bankrupt company’s assets.

by Douglas Messier
Managing Editor

MOJAVE, Calif. — A new court document reveals that an unidentified company nearly purchased now-bankrupt Masten Space Systems earlier this year, but it ultimately backed away due to financial concerns about Masten Mission 1 (MM1), the company’s program to deliver a small rover and a suite of instruments to the south pole of the moon under a NASA contract.

“On April 29, Company A informed Masten that it did not plan to proceed with a deal because of the substantial liabilities recognized to date and additional future projected losses associated with MM1,” an Aug. 10 filing in Delaware Bankruptcy Court said.

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  • Parabolic Arc
  • August 11, 2022
Masten Space Systems Files for Chapter 11 Bankruptcy
Masten’s XL-1 lunar lander was designed science and technology payloads to the Moon’s South Pole. (Credits: Masten Space Systems)

Updated 7/29/2022, 1:24 p.m. PDT: Added statements from NASA and Masten Space Systems. Clarified contract award included paying for launch.

by Douglas Messier
Managing Editor

MOJAVE, Calif. — Masten Space Systems filed for Chapter 11 bankruptcy on Thursday, signaling serious financial distress at the pioneering NewSpace company and putting at risk a NASA-funded mission to send a Masten-built lander to the surface of the moon.

The company said it owed 50 to 99 creditors between $10 to $50 million. Top creditors included SpaceX ($4.6 million), Psionic LLC ($2.8 million), Astrobotic Technology ($2.7 million), NuSpace ($1.7 million), and Frontier Aerospace ($1.2 million).

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  • Parabolic Arc
  • July 29, 2022
Cash-strapped Masten Space Furloughs Employees, Moon Landing Mission at Risk
Masten’s XL-1 lunar lander will deliver science and technology payloads to the Moon’s South Pole. (Credits: Masten Space Systems)

Updated on July 15 to clarify layoffs and furloughs.
Updated on July 15 with a statement from NASA.

by Douglas Messier
Managing Editor

MOJAVE, Calif. — Cash-strapped Masten Space Systems has furloughed all of its staff, putting at risk both the company and a $75.9 million NASA-funded mission to deliver the MoonRanger rover and eight scientific payloads to the lunar surface aboard Masten’s XL-1 lander late next year.

“XL-1 is basically dead. To my knowledge, everyone who was working exclusively on XL1 has been laid off,” a source familiar with the situation told Parabolic Arc in a written response to questions. The source requested anonymity because he was not authorized to speak about the matter.

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  • Parabolic Arc
  • July 14, 2022