Canadian space domain awareness company NorthStar Earth & Space started trading on the New York Stock Exchange after completing a merger with special purpose acquisition company (SPAC) Viking Acquisition Corp. I. The merger valued NorthStar at $300 million, with an additional $30 million in private investment.
NorthStar specializes in integrating ground-based and space-based data to monitor orbital activities and detect potential threats. The company, headquartered in Montreal with operations in Luxembourg and New York, plans to use the funds to deploy a constellation of space-based sensors for space domain awareness (SDA) and space-situational awareness services for both defense and commercial sectors.
Stewart Bain, Founder and CEO of NorthStar, emphasized that going public provides the necessary resources to accelerate the development of their sensor constellation, which will deliver reliable intelligence regarding the orbital environment. He highlighted their commitment to expanding the constellation to serve a growing customer base.
The SPAC deal was announced in mid-April, and since then, several other space companies, including Quantum Space, Astrum Space, and Astro Digital, have also revealed plans to go public through SPACs.
