Ursa Major

Positioning

Ursa Major is a US propulsion maker whose Hadley engine powers a DoD hypersonic test bed and whose Draper engine is prime on AFRL's Affordable Rapid Missile Demonstrator, across three businesses (hypersonics, solid rocket motors, space propulsion), with revenue of $18.5M in 2024 rising to $45M in 2025 and ~$100M projected for 2026. It announced a definitive SPAC merger with Bleichroeder III in August 2026 at ~$2.3B post-money (a Nasdaq close targeted for Q1-27), unveiled its HAVOC missile (February 2026), and opened a Longmont facility. A disclosed risk: its projections assume an 88% CAGR in the US munitions budget, and customers are concentrated (USAF, Navy, RTX, BAE).

Latest signals

• 25 Aug 2026Ursa Major opened a new rocket-manufacturing facility in Longmont, Colorado.SpaceNews
• 25 Aug 2026Ursa Major plans to go public through a $2.3 billion SPAC merger.SpaceNews
• 25 Aug 2026Ursa Major plans to expand its Galeton, Colorado site into a large-scale solid rocket motor production campus.Ursa Major
• 25 Aug 2026Ursa Major is advancing the U.S. Navy’s MK 104 rocket motor design under a new $10 million award.Ursa Major
• 25 Aug 2026Ursa Major’s SPAC transaction carries an approximately $2.3 billion post-transaction equity valuation.Ursa Major

34 signals name Ursa Major. Members see all of them, filtered by topic, source and date.

Facts, with sources

• 1 Jan 2027Merger approved by both boards; expected to close in Q1 2027 subject to approvalsOwnership change · Ursa Major
• 1 Jan 2027Boards of Ursa Major and Bleichroeder unanimously approved the transaction, expected to close in Q1 2027Ownership change · Ursa Major
• 1 Jan 2027Boards unanimously approved business combination with Bleichroeder Acquisition Corp. III; expected closing in Q1 2027Ownership change · Ursa Major
• 1 Jan 2027Boards of Ursa Major and Bleichroeder approved the transaction, expected to close in Q1 2027 subject to approvalsOwnership change · Ursa Major

180 facts on file. Members see all of them with the source link.

Scores, Space (of 10)

Traction: deployment, production, commercials, progress. Capability: technology, positioning, firepower, leverage.

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