NEW YORK – July 25, 2025 – Global law firm Greenberg Traurig, LLP advised Innovative Rocket Technologies Inc. (iRocket), a next-generation reusable space rocket developer, on the signing of a definitive merger agreement with BPGC Acquisition Corp., a special purpose acquisition company (SPAC).
Upon closing of the proposed merger, iRocket is expected to become a publicly listed company on Nasdaq, according to the company’s press release. The transaction values iRocket at a pre-money equity value of $400 million. The transaction, which is subject to equity holder approval and other customary conditions, is expected to close in the fourth quarter of 2025.
iRocket said it plans to revolutionize space propulsion and launch through its next-generation rocket engines and launch systems that are scalable, reusable, and more cost-effective.
BPGC is sponsored by former U.S. Secretary of Commerce Wilbur Ross and BPGC Management LP, an independent private equity firm dedicated to opportunistic buyouts and transactions in the global industrials, materials, and chemicals sectors.
The Greenberg Traurig team that advised iRocket was led by Vice Chair of the firm and Senior Chair of the firm's Global Corporate Practice Alan I. Annex, Executive Vice President and Co-Chair of the firm’s Global Intellectual Property & Technology Practice Scott J. Bornstein, New York Corporate Shareholder Adam S. Namoury, Northern Virginia Corporate Shareholder Jason T. Simon, New York Intellectual Property & Technology Shareholder Elana B. Araj, and New York Corporate Associates Dario Ciapponi and Yoojin Lee.
In addition, the following Greenberg Traurig attorneys assisted in the transaction: Delaware Corporate Shareholder Diane N. Ibrahim, New York Private Wealth Services Shareholder Brian G. Smith, Northern Virginia Tax Shareholder James Maynor, New York Corporate Shareholder Stephen M. Pepper, Washington, D.C., Corporate Shareholder Justin P. Hedge, Washington, D.C., Government Contracts Shareholder Jeffery M. Chiow, Washington, D.C., Government Contracts Associate Eleanor M. Ross, Atlanta Labor & Employment Shareholder Keshia M. Tiemann, Miami Employee Benefits Shareholder Mindy B. Leathe, and Washington, D.C., International Trade Shareholder Cyril T. Brennan.