Eric Trump-Backed Space-Eyes to Go Public via McKinley SPAC Merger
MKLY is trading near its 52-week low of $9.85 (4.6% above the low) on light trading volume (0.2× avg).
Summary
Space-Eyes, a satellite technology company backed by Eric Trump, has signed a definitive agreement to merge with SPAC McKinley Acquisition Corp. The deal values Space-Eyes at a pro forma transaction equity valuation of $638 million. Upon closing, expected in Q4 2026, the combined company will be named Space-Eyes and its common stock is expected to be listed on the Nasdaq Stock Market. Eric Trump is an investor and strategic adviser to the company. The merger will deliver AI-driven counter drone technology and geospatial intelligence worldwide. No further financial terms were disclosed.
At the time of this announcement, MKLY was trading at $10.30 on NASDAQ in the Technology sector, with a market capitalization of approximately $247.8M. The 52-week trading range was $9.85 to $10.22. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.