Astro Digital to Go Public Via Merger with Proem Acquisition SPAC

Astro Digital, US, Inc., a manufacturer of mission-configurable satellites, and Proem Acquisition Corporation I (PAAC), a special purpose acquisition company, announced a merger agreement on Monday, September 28, 2026, that will take the satellite maker public. The transaction values Astro Digital at a pro forma enterprise value, though specific financial terms and the implied valuation were not disclosed in the initial announcement. The deal adds Astro Digital to a growing roster of space-technology companies accessing public markets through SPAC mergers. Proem Acquisition I trades under the ticker PAAC. Completion of the merger remains subject to shareholder approval and customary closing conditions, with a timeline not yet specified by either party.