Astrotech Corporation has expanded its Board of Directors from five to six members and appointed Matt Kreps as a director, effective immediately. The appointment aims to strengthen the company's strategic oversight by leveraging Mr. Kreps' extensive financial and capital markets experience. This move is intended to enhance communication with investors and support Astrotech's strategic objectives as it advances its lunar resource development initiatives.

Mr. Kreps brings significant experience in leading investor relations and equity capital markets programs for publicly traded companies across multiple exchanges and jurisdictions. His background includes senior roles at HydroGraph Clean Power Inc., where he served as Senior Vice President of Capital Markets and Investor Relations. Since 2016, he has also been a Managing Director at Darrow Associates Investor Relations. Prior to this, he held senior investor relations positions at Shelton Group, Magnolia Investor Relations, and Halliburton Investor Relations.

Thomas B. Pickens III, Chairman and CEO of Astrotech, stated that Mr. Kreps' background in equity capital markets and his relationships within the institutional investor community will help the company communicate its strategy clearly. The company expects his perspective to aid in expanding the shareholder base and enhancing long-term engagement with investors and analysts. Mr. Kreps holds an Executive MBA in Global Leadership from The University of Texas at Dallas and a Bachelor of Science in Mass Communications from Kansas State University.

About Astrotech Corporation

Astrotech Corporation operates as an instrumentation company that creates, operates, and scales innovative businesses through its wholly owned subsidiaries. The company focuses on developing advanced technologies for applications in space, defense, and industrial markets. Its subsidiaries include 1st Detect, AgLAB, Pro-Control, and EN-SCAN, Inc., each specializing in distinct areas such as trace detection systems, process analyzers, and autonomous process control solutions.

Shareholder rights law firm Johnson Fistel, PLLP is investigating Astrotech Corporation to determine whether certain officers and directors violated federal securities laws and breached fiduciary duties to investors. The investigation follows a short report published by Fugazi Research on June 2, 2026, which alleged governance lapses and strategic inconsistencies at the mass spectrometry company. Following the report's release, Astrotech's stock price declined, prompting scrutiny from investor rights advocates including Robbins LLP, which is also examining the matter.

Fugazi Research alleged that Astrotech has repeatedly shifted its business model to pursue popular market themes while relying on capital raises despite limited commercial success. The report highlighted multiple strategic pivots in recent years, including moves into aerospace, industrial technology, COVID breath analysis, airport security, and defense sectors.

The short report also raised concerns regarding Astrotech's leadership structure. It alleged that Thomas Boone Pickens III simultaneously serves as Chief Executive Officer, Chief Technology Officer, Chairman of the Board, and Principal Financial Officer. Additionally, Fugazi flagged governance and related-party concerns, citing prior conflict-of-interest issues and related-party arrangements involving Mr. Pickens.

Key Allegations

The following table summarizes the primary allegations made by Fugazi Research against Astrotech Corporation:

Johnson Fistel is examining whether these actions resulted in harm to shareholders. Investors who suffered losses in Astrotech Corporation are encouraged to contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com to learn more about their rights. Alternatively, investors may contact Aaron Dumas, Jr. at Robbins LLP. All representation is on a contingency fee basis, and shareholders pay no fees or expenses to participate.