Eric Trump-backed Space-Eyes to go public in $638 million SPAC deal

Eric Trump-backed AI-driven defense technology company Space-Eyes has announced a definitive agreement to go public through a merger with the special purpose acquisition company McKinley Acquisition Corp.

The transaction sets Space-Eyes at a pro-forma equity valuation of $638 million. 

Under the new deal Space-Eyes is expected to trade on the Nasdaq under the ticker symbol CUAS.

The deal is additionally supported by up to $75 million in PIPE (private investment in public equity) financing.

Space-Eyes specializes in geospatial intelligence and Counter-Unmanned Aerial Systems (C-UAS).

Its proprietary "CATE AI" fusion engine integrates radar, satellite, and other sensor inputs to detect, track, and mitigate hostile or unauthorized drones targeting critical infrastructure and military bases.

Eric Trump's Role:

As per Reuters, the U.S. President Donald Trump's son has recently become the third-largest private investor in the original Space-Eyes, which has operated primarily as a research-and-development company and generated about $1 million in annual revenue.

Eric is also the strategic adviser, focusing on identifying and expanding U.S. defense technology innovations.