Ursa Major Wants $2.3 Billion for a Rocket-Engine Company… and the Last Time a Space SPAC Did This, It Ended in Tears
SPACs are back in space.
Ursa Major is the Colorado rocket-engine maker. It just cut a deal to go public. The path? A merger with Bleichroeder Acquisition Corp. III. The value: $2.3 billion.
That number looks bold. Let me explain…
Ursa Major booked $45 million in sales in 2025. It projects about $100 million for 2026. And its 2027 target sits near $200 million. In other words, buyers are paying a rich price for a firm still early in real production.
But this isn't the same kind of space SPAC we saw in 2021.
Back then, Virgin Orbit, Astra, and Momentus all went public this way. They all promised huge sales. None delivered. Virgin Orbit went bankrupt. Momentus lost nearly all its value. A lot of regular people got hurt.
So why should you care about this one?
Three things stand out. First, Ursa Major has products that fly. Its engines have logged over 5,500 ground tests and powered more than a dozen hypersonic missions. It was the first U.S. firm to fire an oxygen-rich staged combustion engine… a feat only Russian makers had pulled off before.
Second, it's a defense company now. Its HAVOC missile targets a price under $3 million per round. It builds solid rocket motors too. The Pentagon is spending fast, and Ursa Major sits right in the path of that cash.
And third, the $350 million PIPE behind this deal is led by Inflection Point. That's not retail money chasing hype. That's a firm betting real, committed cash on defense growth.
I get the doubt. SPACs burned a lot of people. The pre-money value here is $1.6 billion for a business that did just $18.5 million in sales in 2024. That gap is wide.
But Rocket Lab went public through a SPAC too. So did AST SpaceMobile. Both have paid off for shareholders. The difference was always the product, the customer, and the backlog.
Ursa Major plans to trade on Nasdaq by early 2027. The deal still needs shareholder and regulatory approval.
Worth watching. Carefully.
This could be bigger than Tesla and SpaceX combined
New Patent Reveals Elon Musk’s Next Breakthrough: M.A.G.I.
Take a look at Elon Musk’s new patent below…
Because it protects a new invention that could rewrite the future of wealth forever.
I’m talking about a radical new form of AI I call “M.A.G.I.”
One so revolutionary that Elon called it an “infinite money glitch.”
Click here to see the details because he believes this is a once-in-a-generation opportunity to create wealth on a scale most people can’t even comprehend.
What’s the upside potential here?
I know this is going to sound crazy…
But Elon is projecting growth of over 7,000,000%.
Let that sink in.
That’s enough to turn $100 into more than $7 million.
This sounds absolutely insane.
But then again… everything Elon has ever done sounded insane at first.
Self-driving cars.
Reusable rockets that land themselves.
Brain chips that let paralyzed people control computers with their minds.
Crazy ideas.
But he turned them into trillion-dollar realities.
So here’s the real question…
Will you watch Elon build another empire from the sidelines…
Or will you finally position yourself to potentially become one of the winners in his next trillion-dollar revolution?
Click here to get the details because I believe Elon will flip the switch on this new invention by the end of this month.
The Pentagon Wants a $3 Million Hypersonic Missile
Ursa Major's HAVOC missile aims for a price under $3 million a round. That target came straight from a former Pentagon buying chief. Today's hypersonic weapons cost far more. So the whole game now is cheap and fast, not fancy. Build them in bulk. Fly them often. The side that makes hypersonics affordable wins the next arms race. That's the bet driving this whole deal.
2026 Is Turning Into the Year of the Defense-Tech Listing
Ursa Major isn't going public alone. A wave of defense startups is racing to the markets this year. War worries and fat budgets are pulling investors in. Cheap drones, missiles, and the tools to stop them are hot. Money that once chased pure space now chases defense-space. Watch this trend. It's where the fresh cash is flowing.
America Has a Solid Rocket Motor Bottleneck — and It's Big Money
The U.S. is short on solid rocket motors. A few old firms have owned this market for years. The Pentagon wants more suppliers, fast. So Ursa Major is turning a 400-acre Colorado site into a motor factory. Every missile needs a motor. Whoever breaks the logjam gets paid. This quiet bottleneck may be the real prize.
The Redemption Vote That Decides If This Deal Is Real
Here's the catch with every SPAC. The headline number isn't the real one.
Before the deal closes, SPAC shareholders get to vote. They can also pull their cash out. That's called redemption. And it can gut a deal fast.
The Bleichroeder SPAC raised about $345 million. But how much of that reaches Ursa Major depends on who stays. If too many holders cash out, the war chest shrinks.
So watch the redemption rate closely. It's the true test of belief. A low rate means the market trusts the plan. A high one means trouble before the first trade.
The deal is set to close in early 2027. That vote comes first.
Follow the money that stays…
What Is a SPAC — and Why Do They Keep Ending in Tears?
You keep hearing the word SPAC. Let me explain it in plain terms.
A SPAC is a shell with cash and no business. People raise money first, then go shopping. They hunt for a real company to buy. That's why it's called a blank-check firm.
Once they find a target, the two merge. The private company becomes public. And it skips the slow, strict path of a normal IPO. That speed is the whole appeal.
But speed cuts both ways. A normal IPO gets picked apart by banks and buyers first. A SPAC faces less of that check. So weak firms can slip through with big, shiny promises.
That's what went wrong in 2021. Dozens of space firms rushed out through SPACs. Many had no sales and no product. When the promises fell short, the stocks crashed. Some went to zero.
So a SPAC isn't good or bad on its own. It's just a door. What matters is what walks through it.
Judge the company, not the wrapper.
Remember: a SPAC is only as good as the business inside it. In 2021, the wrapper was shiny and the companies were empty — and investors paid for it. Before you trust the $2.3 billion headline, look at the sales, the customers, and the backlog underneath.
