Quantum Space announced a merger agreement with special purpose acquisition company Inflection Point Acquisition Corp.
VI on Monday that would take the spacecraft developer public at a post-transaction equity value of approximately $1.2 billion
The deal includes a $300 million convertible private investment in public equity at $12 per share, led by Inflection Point Asset Management, plus approximately $253 million held in Inflection Point’s trust account, assuming no redemptions by public stockholders. Quantum Space’s pre-money equity value is $600 million, with existing shareholders expected to retain approximately 50% ownership in the combined company, the company said. Quantum Space is developing the Ranger spacecraft platform for national security, civil, and commercial missions.
The vehicle is designed to operate across multiple orbits — from low earth orbit to cislunar space — with a fuel capacity of more than 4,000 kg, a refuelable and modular design, and an operational life of up to 15 years, the company said. Quantum Space estimates Ranger’s cost for operations beyond low earth orbit would be up to 70% lower than conventional architectures, based on management estimates and internal analysis. The Rockville, Maryland-based company has six contracts and pending proposals with the U.S.