The SPAC boom has reshaped the space startup sector. Until recently, there was plenty of capital flowing into startups but few exits. SPACs offer, in some sense, the best of both options: an influx of capital associated with going public, but without the overhead of a traditional IPO.
The Russian founders of in-space transportation company Momentus have placed their shares into a voting trust and will sell them in the next three years as the company attempts to address U.S. government concerns about its foreign ownership.
A growing realization of the need for a medium-class launch vehicle led Rocket Lab to speed up its plans to go public by merging with a special-purpose acquisition company (SPAC).
Satellite operator Spire Global has unveiled the space-powered Big Data market’s second SPAC deal in just over a week, as the rush to public markets accelerates across commercial space sectors.
Rocket Lab, a developer of launch vehicles and smallsats, will merge with a special-purpose acquisition company (SPAC) to support development of a larger launch vehicle, part of the latest wave of deals to take space companies public.
The merger of in-space transportation company Momentus with a special-purpose acquisition corporation (SPAC) could encourage other space startups seeking large amounts of capital to follow its lead.