Proem Acquisition Corp I to merge with Astro Digital in deal valuing company at $587 million
PAAC•Astro Digital agreed to merge with Proem Acquisition Corp I and go public on Nasdaq as Astro Digital Holdings, at an approximately $587 million pro forma post-money enterprise value. The deal includes up to $180 million in gross proceeds and is expected to close in the first quarter of 2027.
1. Deal terms
The merger is expected to provide up to $180 million in gross proceeds, including up to $130 million from Proem’s trust and about $50 million from a PIPE. Proem Asset Management and affiliates committed $25 million to the PIPE, which they co-led with Leon Capital Group. Closing is subject to customary conditions, including a $30 million minimum cash condition.
