There’s a new company going public on the Nasdaq. And they’re aiming to build the future of solid rocket motors and liquid fuelled hypersonic engines.

What’s happening:

  • Ursa Major has entered into a business combination with Bleichroeder Acquisition Corp (NASDAQ: BCCQ) to become a publicly traded company on the Nasdaq

By the numbers:

  • The SPAC transactions gives Ursa Major a pre-money valuation of roughly $1.6B USD
  • Ursa Major will raise a $350M USD equity financing round concurrently with the SPAC deal with Bleichroeder Acquisition Corp

Why it matters:

  • Ursa Major is one of the most advanced private companies in the United States manufacturing solid rocket motors and liquid fuelled hypersonic engines which are used in test-flight vehicles for the Pentagon and tactical missile prototypes

Going deeper:

  • Ursa Major has multiple significant contracts with the United States military, including a $10M USD award from the United States Navy to develop a next-negeration MK 104 rocket motor for the Standard Missile family and a $28.6M USD contract from the Air Force Research Laboratory for hypersonic and on-orbit propulsion
  • The Pentagon’s Office of Strategic Capital also notably previously provided Ursa Major with $12.5M USD in funding to advancing Ursa Major’s manufacturing processes