Bleichroeder Acquisition III agrees to take Ursa Major public in deal valuing company at USD 2.3 billion
BCCQ•Ursa Major to merge with Bleichroeder Acquisition III
Ursa Major agreed to merge with Bleichroeder Acquisition Corp. III in a deal valuing Ursa Major at about USD 1.6 billion pre-money.
The post-transaction equity valuation is pegged at about USD 2.3 billion, and the combined company is expected to trade on Nasdaq as IPXX.
At least USD 350 million of PIPE commitments back the deal, including about USD 110 million funded at signing.
Ursa Major could also keep up to USD 345 million of additional proceeds depending on redemptions.
Closing is targeted for the first quarter of 2027.
