In a move signaling renewed confidence in space infrastructure investments, reusable rocket developer iRocket announced a $400 million SPAC merger with BPGC Acquisition Corp., chaired by former U.S. Commerce Secretary Wilbur Ross[1][3][11]. The transaction positions iRocket for a Nasdaq listing while leveraging Ross’s private equity expertise and defense industry connections to accelerate its “Recondition, Reload, and Relaunch™” vision for 24-hour rocket turnaround[9][30]. With $19.8 million in active Defense Department contracts and patented LOX/methane engine technology[34][56], the deal underscores growing private sector alignment with Pentagon priorities for responsive space capabilities amid Great Power competition.
💼 Seasoned CorpDev / M&A / PE expertise
Strategic Rationale: Defense Industrial Base Meets SPAC Mechanics
National Security Imperatives Drive Valuation
The merger’s $400 million pre-money valuation reflects iRocket’s positioning at the intersection of two critical trends: (1) DoD’s $1.8 billion Tactically Responsive Space program requiring 24-hour launch readiness[34][56], and (2) SPAC investors seeking infrastructure plays with government-anchored revenue. iRocket’s Shockwave rocket – designed for full reusability using 3D-printed engines – directly addresses Space Force requirements for rapid constellation
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