Colorado-based defense company targets 2027 market debut
Ursa Major, a Colorado-based defense company specializing in hypersonic technologies and solid rocket motors, has announced plans to become a publicly traded company next year through a transaction valued at approximately $2.3 billion.
The agreement involves a merger with Bleichroeder Acquisition Corp., a publicly traded special purpose acquisition company, or SPAC, backed by Inflection Point Asset Management. The transaction is expected to close during the first quarter of 2027.
New capital aimed at expanding production
Ursa Major CEO Chris Spagnoletti said that access to the public markets would allow the company to turn years of investment and technological development into the production capacity required by its customers.
“For eleven years, Ursa Major has invested in the hard work behind that outcome: propulsion, manufacturing, testing, qualification and flight. This transaction will help us turn that foundation into the production capacity our customers need,” Spagnoletti said.
He added that becoming a public company would strengthen Ursa Major’s transparency and accountability while supporting its long-term ability to deliver advanced systems for the US warfighter.
More than $380 million raised since 2015
Founded in 2015, Ursa Major has raised more than $380 million in private capital. The company has also received financial support from the US Department of Defense to develop technologies for solid rocket motors, space systems and hypersonic weapons.
The company currently employs more than 360 people across six facilities in the United States.
$10 million Navy award for MK 104 motor
Last month, Ursa Major announced that it had received a $10 million award from the US Navy to advance development of its MK 104 solid rocket motor.
The program includes a critical design review and static-fire testing intended to assess the system’s performance and reliability before the next stages of development.
Draper engine completes first flight
The company has also completed the first flight of its Draper liquid rocket engine. The test was conducted as part of the Affordable Rapid Missile Demonstrator program led by the US Air Force Research Laboratory.
The initiative is focused on developing propulsion technologies and missile systems that can be manufactured and deployed rapidly in response to growing demand for advanced military capabilities.
HAVOC hypersonic system unveiled
In February, Ursa Major unveiled HAVOC, a new hypersonic missile system. The company plans to manufacture most of the system in-house, giving it greater control over production, quality and delivery timelines.
The estimated cost could reach approximately $3 million per unit, according to company leadership.
Through its planned public listing and expansion of its manufacturing capabilities, Ursa Major aims to strengthen its position in the US defense technology market and meet growing demand for hypersonic systems, rocket motors and propulsion solutions for military and space applications.
