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Subsequent Events

12 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

(19) Subsequent Events

Sale of Astrotech Space Operations business (“Asset Sale”)

On May 28, 2014, the Company entered into a definitive agreement to sell the assets constituting its Astrotech Space Operations business to Lockheed Martin Corporation, including the assets of its wholly owned subsidiary, Astrotech Space Operations, for $61.0 million. The Asset Sale was approved by shareholder vote on August 20, 2014 in a special meeting held at the Company headquarters in Austin, TX. Additionally, the stockholders approved by non-binding advisory vote certain compensation arrangements for the Company’s named executive officers in connection with the Asset Sale.

The following table summarizes the carrying amounts of the major classes of assets and liabilities at June 30, 2014, that were disposed of as part of the Asset Sale, which represented 100% of our ASO segment (in thousands):

Assets:
Accounts receivable		$	1,220
Prepaid expenses and other current assets			177
Property and equipment, net			33,858
Total assets		$	35,255

Liabilities:
Accounts payable		$	184
Accrued liabilities and other			628
Deferred revenue			1,110
Total liabilities		$	1,922

Net assets		$	33,333

Payoff of Term Loan

On August 22, 2014, the Company used funds from its Asset Sale to pay off the outstanding balance of its term loan of $5.7 million.

Payoff of Texas Emerging Technology Fund Award

On August 27, 2014, the Company used funds from its Asset Sale to settle its funding from the State of Texas Emerging Technology Fund for $2.3 million.