Space SPAC CEA Space Partners I files for a $250 million IPO

CEA Space Partners I, a blank check company targeting the space economy, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The Tampa, FL-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, CEA Space Partners I would command a market value of $313 million.

The company is led by CEO and Co-Chairman Edward Horowitz, the founder and Chairman of space and TMT-focused venture firm EdsLink, and Co-Chairman Lonnie Johnson, who served as an Acting Chief of the Space Nuclear Power Safety Section at the Air Force Weapons Laboratory and Senior Systems Engineer at NASA's Jet Propulsion Laboratory. The company plans to target businesses in the space economy and adjacent verticals with enterprise values of at least $1 billion, including satellite equipment and components, satellite communications services, and earth observation technology, among other areas.

CEA Space Partners I was founded in 2021 and plans to list on the NYSE under the symbol CEAS.U. Goldman Sachs is the sole bookrunner on the deal.