Innovative Rocket Technologies, known as iRocket, a reusable rocket developer, announced plans to go public in the United States through a $400 million merger with BPGC Acquisition, a special purpose acquisition company (SPAC) backed by Wilbur Ross. The deal was confirmed on July 23, 2025. However, the SPAC involved has faced financial challenges, having returned most of its original $345 million in shareholder redemptions and currently holding only $1.6 million in its trust account, representing approximately 0.5% of the initial amount. Despite these issues, the merger agreement remains in place, positioning iRocket as an emerging player in the space launch sector supported by a group of investors including several technology moguls.