iRocket to go public at $400 million valuation via SPAC merger

Business Jul 23, 2025

iRocket is set to go public by merging with BPGC Acquisition Corp., a SPAC backed by Wilbur Ross, valuing the rocket startup at $400 million.
The deal is expected to wrap up by the end of 2025, with a final agreement likely this summer.

iRocket's mission and merger details

iRocket builds reusable rockets powered by liquid oxygen and methane, aiming to make space launches faster and more affordable—especially for national security needs.
Their tech focuses on quick turnaround between launches.
Wilbur Ross, who may join iRocket's board, believes the company could help boost US defense innovation.
Financial advisors on both sides are helping guide the merger process.