Ursa Major to go public via $2.3 billion SPAC merger

Ursa Major Technologies has entered into a definitive business combination agreement with Bleichroeder Acquisition Corp. III, a special purpose acquisition company (SPAC) led by Inflection Point Asset Management. The deal, valued at approximately $2.3 billion, is expected to result in the combined entity trading on the Nasdaq under the ticker IPXX by the first quarter of 2027.

The Denver-based manufacturer specializes in propulsion, solid rocket motors, space mobility systems, and hypersonic technology. A significant portion of its operations relies on additive manufacturing; for example, its Hadley engine is approximately 80% 3D printed by mass.

The capital from the transaction, which may include up to $350 million from PIPE financing, is intended to expand production capacities for liquid engines, solid motors, and the HAVOC hypersonic system. CEO Chris Spagnoletti stated that the transaction will help transform the company’s foundation into the production capacity required by its customers.