Rocket Startup iRocket Aims for Liftoff with $400M SPAC Deal - USA Herald

Rocket Startup iRocket Aims for Liftoff with $400M SPAC Deal - USA Herald

In a deal that could send shockwaves through the aerospace and defense sectors, Innovative Rocket Technologies Inc., or iRocket, announced plans to go public at a $400 million valuation through a SPAC merger led by none other than former U.S. Commerce Secretary Wilbur Ross. The burgeoning space-tech firm and BPGC Acquisition Corp., a special purpose acquisition company chaired by Ross and tied to private equity firm BPGC Management LP, have sign…

iRocket Kicks Off a $400M SPAC Deal

New York-based launch startup iRocket signed a letter of intent to merge with BPGC Acquisition Corp.—a blank-check company sponsored by former Commerce Department chief Wilbur Ross—as part of an effort to take the company public. If completed, the merger will bring iRocket onto the Nasdaq with an expected valuation of approximately $400M. In return, Ross will join the iRocket’s board of directors to advise the launch company on how best to posit…

iRocket Eyes to Go Public Through BPGC SPAC Merger

Innovative Rocket Technologies, or iRocket, has signed a nonbinding letter of intent to merge with special purpose acquisition company BPGC Acquisition in a transaction that would result in the reusable space rocket developer becoming a publicly traded company. In a joint release published Monday, the companies said a definitive agreement is expected to be executed