Satellite firm Astro Digital to go public in $587 million SPAC deal
Astro Digital agreed to merge with Proem Acquisition Corp I in a deal valuing the satellite company at about $587 million. The transaction is expected to provide up to $180 million in gross proceeds and close in the first quarter of 2027.
1. Deal terms
Astro Digital said it agreed to go public through a merger with Proem Acquisition Corp I, valuing the company at about $587 million. The transaction is expected to provide up to $180 million in gross proceeds, including up to $130 million from Proem’s trust account and about $50 million from PIPE investments led by Proem Asset Management and Leon Capital Group. Closing is expected in the first quarter of 2027, subject to customary conditions, and the combined company is expected to trade on the Nasdaq.
2. Satellite business
Astro Digital designs, manufactures and operates satellites for Earth observation, communications, space infrastructure and defense. Since 2018, it has delivered nearly 40 satellites and served more than 30 customers, including NASA, the U.S. Department of Defense, Boeing and Sony.
