NorthStar to Go Public via Viking SPAC, Secures $30 Million PIPE at $300 Million Valuation

Overview

• NorthStar Earth & Space and Viking Acquisition Corp. I signed a definitive merger agreement to take NorthStar public through a special-purpose acquisition company.
• The transaction includes a fully committed $30 million private placement anchored by Cartesian Capital Group, structured to deliver at least that amount regardless of trust redemptions.
• The deal sets a $300 million pre-money valuation for NorthStar, with the combined company expected to list on the New York Stock Exchange under the ticker NSTR following a targeted close in the third quarter of 2026, pending approvals.
• NorthStar plans to use proceeds for payload sensors on satellites, spacecraft integration and deployment, and one-time engineering work, with CEO Stewart Bain and the current leadership team staying in place.
• In SPAC mergers, public investors can redeem shares before the vote, which can cut cash from the trust, so the committed PIPE here helps ensure funding for NorthStar’s planned sensor network and data platform for space situational awareness.