#USA #Los Angeles #Wilbur Ross #iRocket #BPGC

iRocket and BPGC Acquisition Corp. Merger Announcement

On June 2, 2025, iRocket, an innovative space rocket developer, and BPGC Acquisition Corp., a special purpose acquisition company backed by Wilbur Ross, announced a $400 million merger proposal. This plan marks a significant step in transforming the space launch industry, aiming to make it more accessible and cost-effective for commercial and defense sectors, and aims to get iRocket listed on Nasdaq.

iRocket's Vision

Founded in 2018, iRocket specializes in developing reusable rocket technology. The company's proprietary engine design allows for 100% reusability, thereby drastically reducing costs and improving turnaround times. iRocket’s mission extends beyond profitability; it is focused on reinforcing U.S. defense and space capabilities. CEO Asad Malik emphasizes, “We are more than a rocket company; we aim to secure the future of defense and space capabilities in the U.S.”

The collaboration with BPGC Management LP, guided by the expertise of Ross, is expected to infuse iRocket with strategic capital and governance, vital for scaling operations and executing its mission at a larger scale. Ross remarked that the merger represents a unique opportunity to back a visionary and execution-focused company capable of supporting U.S. industrial bases, thus strengthening national security and promoting innovation in the space arena.

The Details of the Merger

The letter of intent outlines a pre-money valuation of $400 million for iRocket, which illustrates the confidence stakeholders have in its potential. Existing shareholders of iRocket are set to trade in their shares for equity in the new combined public entity. An announcement regarding additional details will be made once a definitive agreement is reached, expected in the summer of 2025, followed by a closing before year's end.

Strategic Partnerships

Early investor Anne Dwane, co-founder of Village Global LP, a venture capital firm endorsed by notable figures such as Bill Gates and Eric Schmidt, heralded the company’s innovation and commitment to reducing the cost of space access for both civilian and defense needs. An effective partnership is crucial in stimulating growth and scaling government contracts for iRocket as it gears up for a more extensive market expansion.

Technology and Market Potential

iRocket’s advanced propulsion technology not only supports low-cost launches but also meets growing demands for responsive space missions. As small satellite technologies and low Earth orbit constellations gain traction, iRocket’s capabilities position it to address the critical needs of both commercial and military customers looking for reliable and quick access to space.

The company’s Recondition, Reload, and Relaunch™ model redefines how rockets can be utilized, promising a quick turnaround time of under 24 hours. This innovation initiates a new era, making space launches economically viable and paving the way for unprecedented levels of operations in the aerospace domain.

Future Prospects

As the merger process unfolds, both iRocket and BPGC understand that various elements—such as regulatory approvals and satisfactory conditions—will need to be addressed before finalizing the transaction. Nonetheless, the alliance stands as a promising venture that could transform the landscape of the space industry, with aims to enhance national defense functionalities and foster commercial opportunities.

This partnership not only unfolds a new chapter for iRocket but also sends a powerful message about the potential of combining technological advancement in space travel with business savvy in the financial sectors, potentially leading to significant innovations and economic benefits in both industries. The anticipated listing on Nasdaq will further bolster investor confidence and enhance the company’s visibility in the market.

Conclusion

With significant backing and a clear vision, iRocket and BPGC Acquisition Corp. aim to redefine the future of space exploration and launch capabilities. The pathway ahead, filled with opportunities, promises to elevate not only the operational frameworks of both companies but also the industry standards as a whole in the competitive space economy.