SPAC Space Asset Acquisition prices US IPO, raising $200 million

Space Asset Acquisition, a blank check company targeting the global space economy, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50. At pricing, the company commands a market cap of $273 million.The SPAC is led by CEO and Director Peter Ort, a General Partner at Cambium Capital Management. He is joined by CFO Jeff Tuder, the founder and Managing Member at Tremson Capital Management, and Chairman Raphael Roettgen, the founder of E2MC and co-founder and CEO of Prometheus Life Technologies.The SPAC has not yet chosen a target, but plans to focus on businesses developing launch and reentry vehicles; hypersonics; satellite communications; remote sensing and geospatial intelligence; spacecraft and spacecraft components; PNT (positioning, navigation, and timing); space domain awareness; ISR (intelligence, surveillance, and reconnaissance); space tourism; in-orbit services and logistics; space-based power and computing; in-space manufacturing; cislunar infrastructure; and space resource utilization.The CEO and CFO have been involved with several SPACs, including Digital Asset Acquisition (DAAQ; +2% from $10 offer price), which raised $150 million in May 2025 and earlier this month announced its plan to merger with “pro-America” digital bank Old Glory Bank, and Real Asset Acquisition (RAAQU; +11%), which raised $150 million in April 2025.The Princeton, NJ-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SAAQU. BTIG is the sole bookrunner on the deal.