Space-Eyes to Go Public in $638 Million SPAC Deal
Defense technology firm Space-Eyes is set to go public through a merger with McKinley Acquisition Corp, valued at $638 million. The deal will provide up to $251.7 million in gross proceeds and includes a private investment in public equity (PIPE). Eric Trump has become the third-largest investor in the company and will serve as a strategic adviser post-merger. Space-Eyes develops AI-powered counter-drone systems and geospatial intelligence tools for government clients, with plans to expand into corporate markets. The firm currently generates about $1 million annually but is projecting significant growth through new contracts worth around $35 million over five years. Its business model mirrors that of Palantir Technologies, a major U.S. defense software contractor. The SPAC merger reflects rising investor interest in defense tech as global governments increase spending on drone detection and AI-driven intelligence systems.
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Topics: defense technology government contracts IPO SPAC merger