Ursa Major on Aug. 20 opened a new manufacturing facility in Longmont, Colorado. Credit: Ursa Major
WASHINGTON — Ursa Major, a Colorado-based defense technology company that has expanded from building rocket engines into hypersonic missiles and solid rocket motors, plans to go public through a merger with a blank-check company in a deal valuing the combined business at about $2.3 billion.
The transaction with Bleichroeder Acquisition Corp. III is expected to provide Ursa Major with at least $350 million in committed financing to expand production of missile propulsion systems, hypersonic missiles and spacecraft propulsion technology, the companies said Aug. 25.
The deal marks another step in Ursa Major’s transition from a supplier of liquid rocket engines for commercial launch vehicles into a defense manufacturer of missiles and munitions, markets where the Pentagon is pushing suppliers to increase production and bring new sources into a strained missile industrial base.
The transaction gives Ursa Major a pre-money equity valuation of approximately $1.6 billion and a post-transaction valuation of about $2.3 billion. The companies expect the deal to close in the first quarter of 2027, subject to shareholder and regulatory approvals and other closing conditions, after which Ursa Major would trade on Nasdaq.
