Quantum Space agrees on transaction that will take it public

Quantum Space, a satellite manufacturer led by former NASA Administrator Jim Bridenstine, has agreed to a transaction that will take the company public four years after its founding.

Quantum Space said Monday that it will merge with Inflection Point Acquisition Corp. VI, a so-called “blank check” company that collected $253 million in its March initial public offering. Special purpose acquisition companies, or SPACs, are created specifically to merge or acquire with a private company for the purpose of taking it public.

All parties involved expect to close the move in the fourth quarter, after which Quantum Space’s stock would trade under the “QSPC” ticker symbol on the NASDAQ exchange.

In becoming a public company, Quantum Space is looking to capture rising investor interest in defense and space companies as the initial public offering of SpaceX looms over the capital markets.

Fiscal year 2026 revenue is estimated to be $24 million with an FY 2027 target of $61 million, according to Quantum Space’s investor presentation.

The company’s strategy going forward centers around Ranger, a spacecraft being designed to operate autonomously in multiple orbits of interest to government and commercial users. This includes low-Earth orbit, geosynchronous orbits and the cislunar space region between Earth and the Moon.

As part of the transaction, Quantum Space will receive $300 million in private investment in public equity capital prior to closure for development work on Ranger and expansion of production facilities.

Bridenstine joined Quantum Space as CEO in May to lead this iteration of Quantum Space’s push for growth in national security space, which includes work on Space Force’s Andromeda satellite program. Quantum Space is one of 14 awardees on that contract awarded in April, which Space Force has since increased the ceiling of to $6.2 billion.

"We have designed Ranger to satisfy the U.S. Space Force’s Theory of Competitive Endurance: avoiding operational surprise, denying first-mover advantage, and enabling counter-space campaigning,” Bridenstine said in a release. “We believe Ranger will enable us to meet accelerating demand in an environment where sustained maneuverability is no longer optional. Being a public company will better allow us to scale production, deliver on the contracts we've already won, and serve new national security, civil, and commercial customers who have been waiting for this platform."

Rockville, Maryland-headquartered Quantum Space touts its portfolio as including six contracts with federal agencies including Space Force. Other customers include the Defense Department, Defense Advanced Research Projects Agency and Air Force Research Laboratory.

Quantum Space currently has a $600 million equity value that could double to roughly $1.2 billion if there are no redemptions by Inflection Point’s shareholders.

Kam Ghaffarian, the serial entrepreneur who founded Quantum Space in 2022, is the company’s executive chairman. He also started the space companies Intuitive Machines and Stinger Ghaffarian Technologies, which KBR acquired in 2018.

Cantor is acting as lead placement agent and Moelis & Company LLC is working as the joint placement agent to Inflection Point. Cantor is also the exclusive financial adviser to Quantum Space. White & Case LLP is legal adviser to Inflection Point. Reed Smith LLP is legal advisor to Quantum Space. DLA Piper LLP is legal counsel to Cantor and Moelis & Company.

Below is a CNBC interview with Bridenstine that aired Monday.