Colorado hypersonics and rocket propulsion startup Ursa Major will go public via a $2.3 billion merger with Bleichroeder Acquisition Corp., a SPAC backed by Inflection Point Asset Management, with closing expected in Q1 2027.
Key Takeaways
- Ursa Major, a Colorado-based hypersonics and solid rocket motor startup, is going public via a $2.3 billion merger with Bleichroeder Acquisition Corp.
- The deal is a SPAC merger backed by Inflection Point Asset Management, expected to close in the first quarter of 2027.
- Founded in 2015, Ursa Major has raised more than $380 million in private capital and employs over 360 people across six facilities.
- The company recently secured a $10 million US Navy award for its MK 104 solid rocket motor and conducted a first flight test of its Draper liquid rocket engine.
- In February, Ursa Major unveiled its HAVOC hypersonic missile system, estimated at around $3 million per unit.
Ursa Major, a Colorado-based defense startup specializing in hypersonics and solid rocket motors, has announced plans to go public in a $2.3 billion deal, according to Breaking Defense.
What Happened
The agreement involves a merger with the publicly traded Bleichroeder Acquisition Corp., a special purpose acquisition company (SPAC) backed by Inflection Point Asset Management, which works to take companies public. The transaction is expected to close in the first quarter of 2027, according to a news release cited by Breaking Defense.
"For eleven years, Ursa Major has invested in the hard work behind that outcome: propulsion, manufacturing, testing, qualification and flight. This transaction will help us turn that foundation into the production capacity our customers need," Ursa Major CEO Chris Spagnoletti said in a statement. "Becoming a public company aligns with our high standard of transparency and accountability, strengthening our ability to deliver responsibly for the warfighter over the long term."
Since its founding in 2015, Ursa Major has raised more than $380 million in private capital while also garnering investment from the Defense Department to develop technology for solid rocket motors, space systems and hypersonics. The company currently employs more than 360 people across six facilities, according to the release.
Recent Milestones
Last month, the company announced a $10 million award from the US Navy to advance its MK 104 solid rocket motor through critical design review and static fire. Ursa Major also conducted its first flight test of its Draper liquid rocket engine this year as part of the Air Force Research Laboratory's Affordable Rapid Missile Demonstrator effort.
In February, Ursa Major unveiled a new hypersonic missile system named HAVOC that the company plans to mostly manufacture in-house, which Spagnoletti told Breaking Defense at the time could be built for around $3 million per unit.
Why It Matters
The deal marks one of the more notable defense-sector SPAC mergers of the period, reflecting continued investor and Defense Department interest in domestic propulsion manufacturing for both hypersonic weapons and launch vehicle applications. Ursa Major has positioned itself as a supplier addressing demand across solid rocket motors, space systems, and hypersonics technology.
What to Watch
The merger's close in the first quarter of 2027 will be a key milestone to watch, along with how the newly public company's production capacity scales to meet the stated goals outlined by its CEO.
Sources
- Breaking Defense: Hypersonics, rocket startup Ursa Major to go public in $2.3B deal
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Frequently Asked Questions
How is Ursa Major going public?
Ursa Major is merging with Bleichroeder Acquisition Corp., a publicly traded special purpose acquisition company (SPAC) backed by Inflection Point Asset Management, in a deal valued at $2.3 billion.
When is the Ursa Major deal expected to close?
According to Breaking Defense, the transaction is expected to close in the first quarter of 2027.
What does Ursa Major make?
Ursa Major is a Colorado-based defense startup specializing in hypersonics and solid rocket motors, developing propulsion technology for solid rocket motors, space systems, and hypersonic applications.
How much funding has Ursa Major raised previously?
Since its founding in 2015, Ursa Major has raised more than $380 million in private capital, in addition to Defense Department investment.
What recent contracts or milestones has Ursa Major achieved?
Ursa Major recently received a $10 million award from the US Navy to advance its MK 104 solid rocket motor, conducted a first flight test of its Draper liquid rocket engine, and unveiled its HAVOC hypersonic missile system in February.