Quantum Space's military SPAC is trying to catch SpaceX's IPO wave | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. Quantum Space, a startup with plans to build highly maneuverable spacecraft for the U.S. military, announced plans to go public through a $1.2 billion merger with a publicly traded special purpose acquisition company, or SPAC. In a season of mega-IPOs, there’s something almost quaint about a SPAC — in 2021, a fad for going public through the vehicle began in the space sector and spread throughout the tech world. Many SPACs proved disastrous for retail investors who wagered on immature companies, but a few deals, notably Rocket Lab and Planet, proved successful. Another positive outcome was Intuitive Machines, a purpose-built NASA contractor launched by Kam Ghaffarian, a long-time space investor who backed a team of former NASA officials eager to sell their expertise back to the agency. Today, Intuitive Machines is a $6.4 billion company sending a regular cadence of robotic missions to the moon. Now, Ghaffarian is trying to do it again with Quantum Space, a startup he launched in 2