Bleichroeder Acquisition Corp III (BCCQ) News & EventsBCCQNews & EventsBleichroeder Acquisition Corp III

Ursa Major Enters Merger Agreement with Bleichroeder, Valued at $2.3 Billion

Ursa Major Technologies, an aerospace and defense company building hypersonics, solid rocket motors and space mobility systems, announced it has entered into a definitive business combination agreement with Bleichroeder Acquisition Corp. III (BCCQU), a special purpose acquisition company led and backed by the management team of Inflection Point Asset Management, to be renamed Inflection Point Mach X Bleichroeder Corp. (IPXX). Upon closing, Ursa Major will be a publicly traded critical munitions company, that says it is "solving the most pressing defense challenges in hypersonics and solid rocket motor manufacturing." The combined company is expected to trade on the Nasdaq following closing, which is anticipated in the first quarter of 2027. The transaction reflects a pre-money equity valuation of approximately $1.6B and a post-transaction equity valuation of approximately $2.3B. The transaction is supported by at least $350M of PIPE commitments, of which approximately $110M will be funded at signing of the business combination agreement. The PIPE commitment is anchored by Inflection Point and includes both new institutional investors and existing Ursa Major investors, including XN. Ursa Major may also retain up to $345M in additional proceeds depending on redemptions. "Proceeds are expected to accelerate the expansion of Ursa Major's proven production capabilities across solid rocket motors, the HAVOC Missile System and liquid hypersonic engines, and space mobility systems, helping the company deliver critical systems to customers at greater scale and speed," the company stated.