SPAC Deep Space Files for $210 Million IPO

At the proposed deal size, company would command a market value of $263 million.

FLYING Staff

Wednesday, December 22, 2021 at 02:00 PM ET

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Deep Space Acquisition I plans to offer 21 million units at $10 each. [Courtesy: NASA]

Key Takeaways:

Deep Space Acquisition I, a Pennsylvania-based blank check company (SPAC) focused on space technology, has filed for a $210 million initial public offering (IPO).
The company aims to acquire a target leveraging space materials and expertise to generate near-term revenue in terrestrial markets while maintaining a long-term focus on space value.
It plans to offer 21 million units at $10 each on the Nasdaq under the ticker "DPACU," with a projected market value of $263 million.
This IPO follows a growing trend of space organizations, including Virgin Orbit and Rocket Lab, going public through SPAC deals.

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Deep Space Acquisition I, a Pennsylvania-based blank check company targeting space technology, has filed for a $210 million initial public offering.

In documents filed Tuesday with the Securities and Exchange Commission, the company states: “We are seeking a target company that can use the unique materials, hardware, software, and expertise involved in space-related activity to produce near-term revenue streams in terrestrial markets while maintaining a long-term focus on unlocking the value of space.”