Space-Eyes strikes $638 million SPAC deal on $1 million in revenue
Founder Jatin Bains is taking the counter-drone developer public with Eric Trump as an investor and adviser and up to $251.7 million in gross proceeds.
By Ryan Merket · Published
Primary source: Reuters
Why it matters
Space-Eyes is asking public investors to finance a leap from R&D contracts to scaled deployments at a $638 million equity value despite about $1 million in annual revenue.
Space-Eyes founder and CEO Jatin Bains agreed to take Space-Eyes public through a merger with McKinley Acquisition Corp., valuing the post-merger business at $638 million, according to Reuters and a [July 31st transaction…
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