iRocket to go public via $400M merger with BPGC Acquisition

iRocket to go public via $400M merger with BPGC Acquisition

In a significant development for the aerospace industry, iRocket, a next-generation reusable space rocket developer, has announced its intention to go public through a merger with BPGC Acquisition Corp. The merger, valued at a pre-money equity of $400 million, positions iRocket to list on the Nasdaq exchange.

The merger agreement, signed on July 22, 2025, will see iRocket combine with BPGC to form a new public company, iRocket Technologies Inc. The deal is expected to close in the fourth quarter of 2025, subject to customary conditions such as shareholder approval. The combined entity will be led by an experienced board of directors, including former Rolls Royce CTO Paul Stein, former Under Secretary of the U.S. Navy Jerry MacArthur Hultin, and former President of Northrop Grumman Space Systems Blake Larson, with The Hon. Wilbur Ross joining as a public company board member.

iRocket's CEO, Asad Malik, expressed optimism about the partnership, stating, "This partnership reflects a shared vision to advance global space access and accelerate innovation in launch technology." The company's reusable, high-performance vehicles are designed to reduce cost per mission, increase launch cadence, and strengthen critical capabilities for allies and strategic partners.

The deal underscores the growing interest in the space industry, which is expected to reach over $1.8 trillion by 2035 [1]. iRocket's innovative technologies, including its patented MACH-i Landing Engine and Shockwave launch vehicle, are positioned to address the need for affordable, rapid deployment options in the market. The company's focus on sustainability and reusability aligns with the industry's shift towards cost-efficiency and responsiveness.

The merger also highlights the strategic importance of iRocket's partnerships with key government agencies, such as the Department of Defense, and its early-stage customer momentum with over $1 billion in letters of intent and memorandum of understandings. These partnerships and early customer commitments further validate the potential of iRocket's technologies in the space industry.

References:
1. [1] https://finance.yahoo.com/news/irocket-next-generation-reusable-rocket-123300932.html