BPGC SPAC and iRocket sign non-binding LOI for $400M business combination, target Nasdaq listing

BPGC Acquisition Corp.

Pre-money equity value of iRocket set at $400 million before potential share-price earnouts.
Definitive agreement expected in summer 2025; closing anticipated before year-end.
Wilbur Ross (former U.S. Secretary of Commerce) expected to join iRocket's public company board.
iRocket currently performing on $1.8M TACFI and $18M CRADA with the Department of Defense.
Cohen & Company Capital Markets serving as exclusive sell-side advisor to iRocket.

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