Space-based intelligence firm NorthStar Earth & Space has agreed to merge with Viking Acquisition Corp. I, a special purpose acquisition company, to become a publicly traded company.
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In a joint release published Friday, the companies said the boards of directors of NorthStar and Viking have unanimously approved the deal, which is expected to close in the third quarter of 2026, subject to customary closing conditions.
NorthStar said it will use the proceeds from the transaction to support capital expenditures tied to its space-based sensor network, including satellite payloads, spacecraft integration and deployment, and non-recurring engineering work.
What Are the Details of the Transaction?
NorthStar and Viking entered into a definitive business combination agreement that assigns NorthStar a pre-money valuation of $300 million.
The transaction includes a fully committed $30 million private investment in public equity, or PIPE, anchored by Cartesian Capital Group with participation from Canadian and U.S. institutional investors. The deal is expected to generate at least $30 million in gross proceeds, excluding any additional funds held in Viking’s trust account.
The combined company is expected to list on the New York Stock Exchange under the ticker symbol “NSTR” upon completion of the transaction.
What Did NorthStar & Viking Leaders Say About the Transaction?
Stewart Bain, founder and CEO of NorthStar, said the planned public listing will provide the company with access to capital to scale operations and expand its space situational awareness capabilities as it continues efforts to protect orbital environments and advance sustainability in space.
“The transaction positions NorthStar to keep pace with the challenges presented by the increased frequency of new launches and deliver greater value to stakeholders across the space industry,” Bain added.
Viking CEO N. Hakan Wohlin said NorthStar’s technology and business model position the company to address growing demand for space-based intelligence across defense, security and commercial markets.
“We believe this transaction offers a compelling opportunity for investors to participate in the next generation of space infrastructure,” Wohlin noted.
What Does NorthStar Do?
NorthStar provides space situational awareness and space domain awareness services designed to track orbital objects and detect potential threats in space.
The space data analytics company has supported U.S. government-related efforts, including a collaboration with Riverside Research under the Defense Advanced Research Projects Agency’s Space-WATCH program to enhance SSA capabilities.
NorthStar has also secured a U.S. patent tied to its space-based concept of operations for identifying and monitoring objects in orbit.
In addition, the company has expanded its U.S. presence with Chief Financial Officer Beth Michelson serving as president of its U.S. subsidiary to support space defense innovation and deliver SSA and SDA services to government and allied customers.
NorthStar is headquartered in Montreal, with additional operations in Luxembourg and New York.
