Space startup iRocket to go public via $400 million SPAC deal
SPAC deals, which took a backseat following a boom in 2020-2021, have seen a resurgence this year as macroeconomic uncertainties led by President Donald Trump's tariff policies continue to temper dealmaking.
Crypto firm Bitcoin Standard Treasury Company, with over 30,000 bitcoin on its balance sheet, said it was aiming to list on Nasdaq through a merger with a Cantor Fitzgerald-backed blank check firm.
SPACs are being increasingly viewed as a viable alternative to the traditional initial public offerings, which remained subdued through the tariff saga. However, progress in trade talks has rejuvenated investor interest in fresh listings.
The company, founded in 2018, specializes in liquid oxygen and methane-fueled rocket propulsion technology, which encompasses a quick turnaround time to reload and relaunch, through its patented engine design.
Space startups have also seen a lot of interest from investors and venture capital firms, with the World Economic Forum predicting a $1.8 trillion space economy by 2035.
The company also noted the same number, citing a report by McKinsey, indicating it as a major opportunity for the rocket developer.
"iRocket's unique combination of proven engineering talent, reusable launch systems, and solid rocket motor capability positions the Company to capture a significant share of the global launch and propulsion market," said Wilbur Ross, the 39th U.S. Secretary of Commerce and a sponsor of BPGC.
The transaction, on which Cohen & Company Capital Markets advised iRocket financially, is expected to be completed in the fourth quarter of 2025.
The companies intend to list the merged entity on Nasdaq.
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Telegraph
an hour ago
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Elon Musk's AI making explicit videos of Taylor Swift
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