Story perspectives

Ursa Major to Go Public in $2.3 Billion SPAC Deal

8/26/2026

Summary

Story summary

U.S. defense firm Ursa Major Technologies will go public via a $2.3 billion SPAC merger with Bleichroeder Acquisition Corp. III.
Inflection Point Asset Management backs the SPAC partner and leads the $350 million PIPE.
$110 million of the PIPE is funded at signing.
The combined company will list on Nasdaq under ticker IPXX after a Q1 2027 closing.
Funds will expand solid-rocket motor, HAVOC missile, and liquid hypersonic engine production.

History

Historical Context

Beginning in 2003, DARPA’s Falcon program contracted Lockheed Martin and other defense firms to develop boost-glide hypersonic demonstrators. The HTV-2 vehicle flew in April 2010 and August 2011, reaching roughly Mach 20 and returning extensive flight data. In 2013 DARPA ended further HTV-2 flights, citing sufficient data, and refocused the effort on tactical hypersonic concepts. The data continues to inform ongoing hypersonic weapon development.

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Story summary

U.S. defense firm Ursa Major Technologies will go public via a $2.3 billion SPAC merger with Bleichroeder Acquisition Corp. III.
Inflection Point Asset Management backs the SPAC partner and leads the $350 million PIPE.
$110 million of the PIPE is funded at signing.
The combined company will list on Nasdaq under ticker IPXX after a Q1 2027 closing.
Funds will expand solid-rocket motor, HAVOC missile, and liquid hypersonic engine production.

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