Astro Digital to Go Public in SPAC Deal
Satellite manufacturer Astro Digital has agreed to merge with Proem Acquisition in a deal valuing the firm at 587 million dollars. The transaction is expected to close in early 2027 with shares listing on the Nasdaq.
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Satellite maker Astro Digital agreed to go public on Monday morning through a merger with blank-check company Proem Acquisition Corp I in a $587M SPAC deal. The transaction values the space infrastructure firm at nearly $600M as early-stage aerospace companies increasingly turn to public markets for capital. Rising government defense spending and surging demand for satellite constellations are driving the sector's expansion.
