In a bold leap toward the stars—and the Nasdaq—Innovative Rocket Technologies Inc., better known as iRocket, has announced a $400 million SPAC merger with BPGC Acquisition Corp., a blank-check firm led by none other than former U.S. Secretary of Commerce Wilbur Ross. The fusion of aerospace ingenuity and financial power was unveiled Wednesday and marks iRocket’s official countdown to a public listing.
Nasdaq Launch Imminent
Once the merger closes—targeted for Q4 2025—the combined entity will be named iRocket Technologies Inc. and will trade on the Nasdaq, potentially disrupting the global launch and propulsion markets with its low-cost, reusable rocket systems.
The transaction comes just six weeks after the two parties signed a non-binding letter of intent, now formalized into a definitive agreement. Law firms Greenberg Traurig LLP and White & Case LLP steered the deal for iRocket and BPGC, respectively.
Reusable, Scalable, Sustainable
iRocket is no typical aerospace upstart. It builds reusable rockets powered by a proprietary engine that burns liquid oxygen and methane—a cleaner combination that reduces engine stress and lowers operational costs. The firm is already collaborating with the U.S. Air Force Research Lab and Space Systems Command, enhancing its credibility in both civilian and defense markets.
“We exist to serve a bigger mission than just putting payloads in orbit,” said iRocket CEO Asad Malik, emphasizing the firm’s vision to democratize access to space while advancing innovation in launch systems.
