Ursa Major Agrees $2.3B SPAC Deal to Fund Hypersonic Expansion

Ursa Major said on August 25 it had signed a definitive agreement to merge with Bleichroeder Acquisition Corp. III, a transaction expected to take the hypersonics and propulsion company public on Nasdaq in the first quarter of 2027. The deal gives the privately funded defence technology company a route to raise capital for expanded missile and rocket-motor production.

The proposed transaction carries an implied post-transaction equity value of about $2.3 billion. It is backed by at least $350 million in committed private investment in public equity, or PIPE, financing, although roughly $110 million of that amount was funded when the agreement was signed.

Bleichroeder merger targets Q1 2027 Nasdaq listing

The agreement pairs Ursa Major with the special purpose acquisition company Bleichroeder Acquisition Corp. III. Ursa Major announced the definitive deal on August 25, setting a Q1 2027 target for completion and a Nasdaq listing for the combined company.

The companies have set a target, not announced a completion date; as with SPAC transactions generally, further steps typically remain before closing. The announcement also did not state that the Nasdaq listing had already occurred.

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