Eric Trump-backed defense tech firm Space-Eyes to go public via $638 million SPAC merger

Published Jul 31, 11:17 AM UTC

Defense technology company Space-Eyes has agreed to go public through a merger with SPAC McKinley Acquisition Corp, valuing the combined entity at $638 million. Eric Trump, son of U.S. President Donald Trump, recently became the third-largest private investor in Space-Eyes and will serve as a strategic adviser post-merger. The Miami-based firm develops AI-powered counter-drone and geospatial intelligence technologies for governments. Despite generating only about $1 million in annual revenue, the company is negotiating contracts worth roughly $35 million over five years, including monitoring drug trafficking in the Caribbean and defense applications in the Middle East. The deal is expected to provide up to $251.7 million in gross proceeds from McKinley's trust and a PIPE financing. The transaction is slated to close in Q4 2026, subject to approvals.