TAMPA, Fla. – CEA Space Partners I Corp, a blank check company led by satellite industry veteran Edward Horowitz, plans to raise $ 250 million through a public offer to buy a space company.
The Special Purpose Acquisition Company (SPAC), part of a growing trend in the aerospace industrysaid it has the support of private equity firm Navigation Capital and investment bank CEA Group.
You are committed to providing capital and other resources to CEA Space Partners I Corp to identify a potential acquisition.
“While we can pursue an acquisition opportunity in any industry or industry, we intend to focus our searches on space companies and related industries with an enterprise value of at least $ 1 billion,” the SPAC said. an SEC filing
“This can include, but is not limited to, satellite equipment and components, satellite communication services, earth observation technology, satellite launch technology, data acquisition and analysis tools, space logistics, robotics, and related services.”
Navigation Capital also invested in another SPAC called Holicity, Inc., namely announced a merger in February with the launch of the Astra satellite.
Horowitz, CEO and Co-Chairman of CEA Space Partners I Corp, is best known in the space industry as the past President and CEO of SES Americom, the satellite operator that eventually merged with SES in Luxembourg.
He is currently a board member of the First Responders Network Authority, an independent US Department of Commerce agency that operates a nationwide broadband network for first responders. His term of office ends in August 2021.
“We see the space economy at a tipping point, driven by technological innovation, accelerated privatization, continued savings in startup costs and an increase in capital funding as key factors that we believe will act as catalysts for future growth,” said the SPAC. S-1 Filing, an initial SEC registration form that US companies must file before going public.
The application also highlighted the potential of using the initial acquisition as a platform to purchase additional assets that could generate revenue synergies and operational leverage “due to the fragmentation within the space industry”.
CEA Space Partners I Corp is located in Tampa, Florida.
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