Space-Eyes to go public via $638 million SPAC deal
Defense technology firm Space-Eyes is set to become publicly traded through a merger with McKinley Acquisition Corp, in a deal valued at $638 million. The transaction will provide up to $251.7 million in gross proceeds and includes a private investment in public equity (PIPE) financing. Eric Trump has emerged as the third-largest investor in Space-Eyes and is expected to serve as a strategic adviser post-merger, leveraging his experience with security threats involving drones near the White House. The company primarily operates as an R&D firm generating about $1 million annually but plans to scale through partnerships for manufacturing and expansion into government contracts globally. The deal highlights growing investor interest in defense technology driven by increased global spending on drone detection and AI-driven intelligence systems.
Tickers: $MKLYU
Topics: AI counter-drone systems defense technology geospatial intelligence