Eric Trump-backed space technology firm Space-Eyes Inc. announced Friday that it's charting a course toward the public markets, agreeing to merge with special purpose acquisition company McKinley Acquisition Corp. in a deal carrying an equity valuation of $638 million — a figure that instantly puts the young defense-tech player on the radar of serious institutional investors.

The Capital Fueling the Merger

To help power the transaction, McKinley has lined up as much as $75 million in capital through a private investment in public equity financing arrangement, according to Friday's statement. Of that total, $5 million is slated to flow in once a registration statement tied to the deal is officially filed with the U.S. Securities and Exchange Commission — a first checkpoint that will set the broader process into motion.

What Space-Eyes Actually Does

Real-Time Intelligence for a Volatile World

Based in Miami, Florida, Space-Eyes builds geospatial intelligence systems paired with artificial intelligence agents designed to deliver real-time situational awareness and control across defense, security and enterprise operations worldwide, the statement explained. Think of it less as a single product and more as a constantly watching digital sentinel, scanning for threats that human eyes alone might miss.

Guarding the Skies Against Drones

Its technology is specifically built to detect, track, identify and neutralize unauthorized or hostile drones near critical infrastructure, military installations, national borders and large public gathering venues — a capability that's become increasingly relevant as drone threats have evolved from novelty to genuine security concern in just a few short years.

Leadership's Vision for What Comes Next

"The world has never needed real-time intelligence more than it does today in order to understand and respond to dynamic and unpredictable environments," said Space-Eyes CEO and co-founder Jatin Bains. "Space-Eyes has spent two decades building technology, partnerships, and operational credibility to meet this challenge. This transaction gives us an opportunity with the capital and strategic foundation to accelerate growth, expand customer deployments, and fundamentally reshape how the world manages risk."

How SPAC Deals Work — And Where This One Is Headed

From Blank Check to Public Ticker

McKinley operates as a special purpose acquisition company — often called a SPAC or "blank-check" company — meaning it exists purely as a shell entity that raises money through its own initial public offering, then uses those funds to acquire a private company and usher it onto public markets. It's a shortcut of sorts, letting companies like Space-Eyes skip the traditional IPO runway in favor of a faster on-ramp.

Once the merger completes, the combined company is expected to begin trading on the Nasdaq under the ticker symbol CUAS — a new identity that will mark Space-Eyes' formal debut as a publicly traded entity.

McKinley's CEO Weighs In

"Autonomous defense is a secular trend drawing strong investor attention and market demand. With Space-Eyes' highly scalable, capital-efficient technology and a team that can secure meaningful contracts, we are well positioned to drive organic and inorganic growth and succeed as a public company," said McKinley CEO Peter Wright, framing the deal as a bet on where defense technology investment is headed rather than where it's been.

The Road Ahead

The deal is expected to close during the fourth quarter of 2026, setting up a defense-tech debut that both companies are betting will resonate with investors hungry for exposure to autonomous security and surveillance technology in an increasingly unpredictable global landscape.