Space-Eyes Confirms $638M SPAC Merger with McKinley Acquisition

Published Aug 3, 04:16 PM UTC

Space-Eyes, a provider of AI-driven geospatial intelligence and counter-drone systems, has entered into a definitive business combination agreement with McKinley Acquisition Corp. The deal, approved by both boards, is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval. The merged entity will operate as Space-Eyes, Inc. and plans to list on Nasdaq under the ticker 'CUAS'. The transaction values Space-Eyes at a pro-forma equity value of $638 million and an implied enterprise value of $370 million. McKinley has secured up to $75 million in private investment (PIPE), with an initial $5 million tranche. Notably, Eric Trump, son of US President Donald Trump, is the company's third-largest private investor and will serve as a strategic adviser. Space-Eyes, previously focused on R&D with around $1 million in annual revenues, aims to transition to broader production contracts and market expansion using its proprietary AI fusion engine, CATE AI.