Proem Acquisition to Take Astro Digital Public in $587 Million SPAC Deal

09:25 AM EDT, 09/28/2026 (MT Newswires) -- Proem Acquisition Corp I (PAAC), a special acquisition vehicle, said Monday it has signed a business combination agreement to take Astro Digital public. Astro Digital is a designer, manufacturer, and operator of satellites for commercial, civil and defense uses. Under the deal, which is expected to close in Q1 of 2027, Proem will become Astro Digital Holdings and is expected to trade on Nasdaq. The transaction values Astro Digital at pro forma post-money enterprise value at about $587 million, the companies said. The combination will be funded with up to about $180 million in gross proceeds, comprising up to $130 million of cash held in Proem's trust account, assuming no redemptions, and about $50 million from private investment in public equity investments, they said.