Astrotech Corporation (NASDAQ: ASTC) has received an indemnity payment of USD6.1 million, which was held in escrow until the 18-month anniversary of the sale of its Astrotech Space Operations (ASO) business unit to a wholly owned subsidiary of Lockheed Martin Corporation in August 2014, the company said.
As of February 25, 2016, Astrotech received a total of USD61 million for the sale of the ASO business. No claims were asserted against the indemnity escrow account, and all monies held in escrow related to the sale by Astrotech of the ASO business have been paid to Astrotech.
Astrotech identifies and commercializes emerging disruptive technologies through its closely held subsidiaries. Management sources investment opportunities from various government laboratories, agencies, universities, and corporations, as well as through its own internal research. Astrotech has operations throughout Texas and is headquartered in Austin.