A group of aviation and telecommunication experts, including former staffers from Surf Air Mobility, xAI, and SpaceX, are forming a blank check company that will seek to take a space company public, as Wall Street chases the industry.
Futurecorp Space Acquisition 1 is seeking to raise $200 million in an initial public offering, and expects to target businesses in space manufacturing, launch platforms, and defense investments, according to a filing Tuesday. Special purpose acquisition companies raise funds by listing on an exchange, then find a private company to merge with and take it public.
The listing plan comes as Elon Musk readies SpaceX for potentially the largest IPO ever, delivering gains to early investors and employees who are looking for the next big bet. The stock market is also primed to welcome space exploration companies, which have evolved from a niche area to a growth industry.
Shares of existing space stocks have soared this year in anticipation of SpaceX’s public filing, which could come as soon as Wednesday.
The SPAC lists former xAI staffer Matthew Long as general counsel. David Anderman, former general counsel of SpaceX and Surf Air board member, will serve as a director. It also touted ties to Palantir Technologies Inc. Long served as general counsel for the company and Shawn Pelsinger, a director of the SPAC, served as global head of corporate development from 2015 to 2025.
Written by: Carmen Arroyo and Bailey Lipschultz @Bloomberg
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