A Canadian company wants to change the future of tracking objects in space. And they’re getting ready to make their Wall Street debut next.
What’s happening:
- Montreal, Quebec based space data company NorthStar Earth & Space has entered into a business combination agreement with Viking Acquisition Corp I (NYSE: VACI) to become a publicly traded company on the New York Stock Exchange
By the numbers:
- The new SPAC deal gives NorthStar Earth & Space a pre-money valuation of roughly $300M USD
Why it matters:
- NorthStar Earth & Space has developed proprietary space monitoring technology that tracks objects in orbit and observes space traffic in real time through satellites and advanced analytics
Going deeper:
- NorthStar Earth & Space has publicly stated they have $30M USD in committed funding from strategic investors that will be raised concurrently with their SPAC transaction
- The United States Department of Commerce previously awarded NorthStar Earth & Space a contract for their Space Traffic Coordination Pilot Project which is aiming to validate new types of technology for space safety
The intrigue:
- The Quebec government is one of the earliest investors in NorthStar Earth & Space through their government owned economic development agency
