Canadian space domain awareness (SDA) company NorthStar Earth & Space began trading on the New York Stock Exchange on Friday morning after completing a SPAC merger this week.
NorthStar completed its combination with special purpose acquisition company (SPAC) Viking Acquisition Corp. I in a deal that valued NorthStar at $300 million, with an additional $30 million in private investment.
NorthStar integrates ground-based and space-based data to monitor activity and detect threats in orbit. The company is headquartered in Montreal with operations in Luxembourg and New York.
The company expects to use the proceeds to deploy a constellation of space-based sensors to provide SDA and space-situational awareness services to defence and commercial operators, along with ground-based sensors.
“Becoming a public company gives NorthStar the resources to accelerate what we set out to build: a space-based sensor constellation that delivers trusted intelligence on the orbital environment,” said Stewart Bain, Founder and CEO of NorthStar. “We’re focused on execution as we expand the constellation and serve a growing base of government and commercial customers.”
The company announced the SPAC deal in mid-April. Since then, a number of other space companies announced plans to use SPACs to go public including Quantum Space, Astrum Space, and Astro Digital just this week.
