BPGC Acquisition Corp. and Innovative Rocket Technologies Inc. Merge in $400 Million Deal

Deal News | Jul 23, 2025 | White & Case LLP

BPGC Acquisition Corp. and Innovative Rocket Technologies Inc. Merge in $400 Million Deal

White & Case LLP has advised the special purpose acquisition company BPGC Acquisition Corp. in its US$400 million merger deal with Innovative Rocket Technologies Inc. (iRocket). Post-merger, the combined entity will operate as iRocket Technologies Inc. and is expected to be listed on Nasdaq. This strategic transaction, involving the merger of BPGC and iRocket into a new public entity, was meticulously negotiated and executed by a diverse and specialized team from White & Case, encompassing various legal disciplines such as M&A, Capital Markets, Tax, International Trade, and Technology Transactions. This transition marks a significant milestone for iRocket as it enters the public market space with potential strategic advantages in the burgeoning area of reusable space rocket development.

Sectors

  • Aerospace & Defense
  • Legal Services
  • Financial Services

Geography

  • United States – The legal advisory firm, White & Case LLP, and many of its partners handling the transaction are based in various cities across the United States, such as Chicago, Los Angeles, New York, and Washington DC.

Industry

  • Aerospace & Defense – The transaction involves Innovative Rocket Technologies Inc., a developer of next-generation reusable space rockets, signifying its relevance to the Aerospace & Defense sector.
  • Legal Services – White & Case LLP, a global law firm, provides legal advisory services for the merger, falling under the Legal Services industry.
  • Financial Services – The merger involving a special purpose acquisition company (SPAC), BPGC Acquisition Corp., ties into Financial Services, specifically SPAC activity.

Financials

  • US$400 million – The merger agreement deal value between BPGC Acquisition Corp. and Innovative Rocket Technologies Inc.

Participants

NameRoleTypeDescription
BPGC Acquisition Corp.Target CompanyCompanyA special purpose acquisition company involved in the merger with Innovative Rocket Technologies Inc.
Innovative Rocket Technologies Inc.Target CompanyCompanyA developer of next-generation reusable space rockets entering into a merger with BPGC Acquisition Corp.
iRocket Technologies Inc.New EntityCompanyThe newly formed public company resulting from the merger of BPGC and iRocket, aimed at listing on Nasdaq.
White & Case LLPLegal AdvisorCompanyProvided legal advisory services for the $400 million merger between BPGC Acquisition Corp. and Innovative Rocket Technologies Inc.