Spacecraft developer Quantum Space to go public in $1.2 billion SPAC deal
FILE PHOTO: NASA Administrator Jim Bridenstine speaks at a pre-launch news conference as a SpaceX Falcon 9 rocket is readied to carry four astronauts on the first operational NASA commercial crew mission at Kennedy Space Center in Cape Canaveral, Florida, U.S., November 13, 2020. REUTERS/Joe Skipper/File Photo
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June 8 : Space infrastructure company Quantum Space said on Monday it would go public through a merger with special purpose acquisition company Inflection Point Acquisition in a deal that values the combined company at about $1.2 billion.
The deal comes as investor interest in the space sector has surged ahead of a long-awaited SpaceX initial public offering, expected to fetch a valuation of about $1.75 trillion.
Here are some details of the deal:
• The transaction includes a $300 million private investment in public equity (PIPE) led by Inflection Point Asset Management.
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• Quantum Space said the proceeds would help accelerate its flagship Ranger spacecraft platform and expand manufacturing facilities.
• Quantum Space, led by former NASA Administrator Jim Bridenstine, is developing the platform for national security, civil and commercial missions.
• The deal is expected to close in the fourth quarter of 2026, after which the combined company will operate as Quantum Space and trade on Nasdaq under the ticker “QSPC.”
• Cantor is also serving as exclusive financial advisor to Quantum Space.
Source: Reuters
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