Deep Space Acquisition I, a blank check company targeting space technology and space-related applications, filed on Tuesday with the SEC to raise up to $210 million in an initial public offering.
The company plans to raise $210 million by offering 21 million units at $10. Each unit consists of one share of common stock, one right to receive one-sixteenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Deep Space Acquisition I would command a market value of $263 million.
Deep Space Acquisition I is led by CEO and Director Jose Ocasio-Christian, the CEO of Caelus Partners and Community in Space; CFO Linda Maxwell, a consultant at MB Associates; and COO and CCO Robert Tull, the COO of Procure Holdings.
The company plans to leverage management's experience and target space technology, space-related applications, and the integration of space into terrestrial (Earth-based) market sectors. Examples within these sectors include but are not limited to communication services, energy, industrials, information technology, and materials.
The Levittown, PA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol DPACU. The company filed confidentially on July 23, 2021. Nomura Securities is the sole bookrunner on the deal.
