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Space Asset Acquisition Corp. is a newly formed special purpose acquisition company focused on the global space economy, including technology and defense sectors. It has 24 months from its IPO closing, referred to as the Completion Window, to complete an initial business combination.
The company completed an IPO of 23,000,000 units at $10.00 per unit, raising $230,000,000, and simultaneously sold 645,000 private placement units for $6,450,000. A total of $230,000,000 was deposited into a trust account, to be used only for a business combination or redemptions.
As of March 27, 2026, there were 23,645,000 Class A ordinary shares (including 23,000,000 subject to possible redemption) and 7,666,667 Class B founder shares outstanding. Public shareholders are granted redemption rights at approximately $10.00 per share in connection with a business combination or if no deal is completed within the Completion Window.
Space Asset Acquisition Corp. is allowing holders of its units to begin separately trading the Class A ordinary shares and warrants included in those units on or about March 20, 2026. Each unit from the company’s initial public offering of 23,000,000 units contains one share and one-third of a redeemable warrant.
Units will continue to trade on The Nasdaq Global Market under “SAAQU,” while the Class A ordinary shares and warrants will trade separately under “SAAQ” and “SAAQW.” No fractional warrants will be issued; only whole warrants will trade, and holders must work through their brokers and the transfer agent to separate their units.
Space Asset Acquisition Sponsor LLC, the sponsor of Space Asset Acquisition Corp., acquired 415,000 Class A ordinary shares at $10.00 per share. These shares are tied to 415,000 Private Placement Units purchased by the sponsor, reflecting its role as a director by deputization and 10% owner.
The sponsor is governed by a three‑member board of managers, and actions regarding these securities require a majority vote. No individual manager is deemed a beneficial owner of the Class A ordinary shares held by the sponsor under this governance structure.
Space Asset Acquisition Sponsor LLC reports beneficial ownership of 7,976,667 shares of Space Asset Acquisition Corp., representing 25.48% of the outstanding class. This includes 7,561,667 Class B founder shares that convert into Class A shares around the future business combination and 415,000 Class A shares from private placement units.
The Sponsor paid $25,000 for the founder shares and $4,150,000 for 415,000 private placement units at $10.00 each, with each unit comprising one Class A share and one-third of a warrant. A letter agreement, registration rights agreement, and lock-up provisions restrict transfers, waive certain redemption and liquidation rights, and commit the Sponsor to vote its shares in favor of a business combination. An administrative services agreement pays the Sponsor $20,000 per month, up to $480,000, for office space and support.
Space Asset Acquisition Corp. received a Schedule 13G from RP Investment Advisors LP and four affiliated funds reporting a passive ownership position in its units. The group reports beneficial ownership of 1,165,129 Units, representing 5.1% of the 23,000,000 Units outstanding as of January 29, 2026.
The Units each consist of one Class A ordinary share and one-third of one redeemable warrant. RP Investment Advisors LP is investment adviser to the funds and may be deemed to beneficially own the Units, but all reporting persons disclaim being a controlling group and certify the holdings are not for the purpose of changing or influencing control.
Space Asset Acquisition Corp., a blank check company focused on the global space economy, completed its initial public offering of 23,000,000 units at $10.00 per unit, raising $230,000,000 in gross proceeds. Each unit includes one Class A share and one-third of a redeemable warrant exercisable at $11.50 per share.
The company also sold 645,000 private placement units for $6,450,000 to its sponsor and BTIG. In total, $230,000,000, including $8,050,000 of deferred underwriting fees, was placed in a U.S. trust account. The audited balance sheet shows total assets of $231,825,993, largely cash held in trust, and Class A shares classified as redeemable at $10.00 per share.
The SPAC has until January 29, 2028 to complete a business combination, with public shareholders entitled to redeem their shares for their pro rata portion of the trust. Management reports sufficient liquidity outside the trust for at least one year of operations, alleviating prior going concern uncertainty.
Space Asset Acquisition Corp. completed its initial public offering of 23,000,000 units at $10.00 per unit, generating $230,000,000 in gross proceeds. Each unit contains one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50 per share.
The company also sold 645,000 private placement units at $10.00 per unit for $6,450,000, purchased by its sponsor and BTIG, LLC. A total of $230,000,000, including IPO and private placement proceeds, was placed in a U.S. trust account to fund a future business combination or redemptions.
Three independent directors were appointed, the board was classified into three staggered classes, and an amended and restated memorandum and articles of association became effective. The SPAC plans to seek a business combination in the global space economy, including technology and defense sectors.