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Eric Trump-backed Space-Eyes to add ex-Delta Force officer, ex-banker to board

Created at 21 Aug · 12:12 PM1 source↑ Market-relevant
IN SHORT

Space-Eyes, a drone technology company backed by Eric Trump, is set to appoint a former Delta Force officer, a former Morgan Stanley investment banking chief, and two others to its post-merger board as it prepares to go public via a SPAC merger.

Key Numbers

$638 millioncombined company valuation
$370 millionenterprise value of operating business
$1 millionannual revenue
25 yearsJim Reese's service in U.S. Army
25 yearsTerry Meguid's tenure at Morgan Stanley
2001Space-Eyes creation year
$176 millionMcKinley's trust account contribution
$12 millionfirst tranche of planned private investment

Who's Involved

Space-Eyes
AI-powered geospatial intelligence and counter-drone technology company
Eric Trump
Investor and strategic adviser to Space-Eyes
McKinley Acquisition Corp.
SPAC company merging with Space-Eyes
Jim Reese
Retired U.S. Army Lieutenant Colonel and security consultancy founder
Terry Meguid
Former head of worldwide investment banking at Morgan Stanley
Harbir Singh
Wharton School management professor and Space-Eyes board member
Norm Christensen
Aerospace entrepreneur
Eric Trump-backed Space-Eyes to add ex-Delta Force officer, ex-banker to board

↳ Why This Matters

The planned board appointments and upcoming public listing signal Space-Eyes' strategic move to scale its AI-powered drone technology operations and expand its market reach, bolstered by experienced individuals in defense and finance.

Key facts

  • Space-Eyes, backed by Eric Trump, is preparing to go public via a SPAC merger with McKinley Acquisition Corp.
  • The company develops AI-powered geospatial intelligence and counter-drone technologies.
  • The planned board appointments include a former Delta Force officer, a former Morgan Stanley investment banking chief, a professor, and an aerospace entrepreneur.
  • Eric Trump joined Space-Eyes as an investor and strategic adviser.
  • The SPAC merger values the combined company at $638 million.

Drone technology company Space-Eyes, which has Eric Trump as an investor and strategic adviser, is preparing to become a public company through a merger with special purpose acquisition company McKinley Acquisition Corp. The deal values the combined entity at $638 million. As part of its preparation for public listing, Space-Eyes intends to appoint four new directors to its post-merger board. These individuals include retired U.S. Army Lieutenant Colonel Jim Reese, former Morgan Stanley investment banking chief Terry Meguid, Wharton School professor Harbir Singh, and aerospace entrepreneur Norm Christensen. The appointments are aimed at strengthening the company's expertise in national security, defense manufacturing, capital markets, and corporate governance. Space-Eyes, based in Miami, develops AI-powered geospatial intelligence and counter-drone technologies for government agencies and anticipates trading on Nasdaq under the symbol CUAS.

Frequently asked questions

Space-Eyes is a Miami-based research-and-development company that develops AI-powered geospatial intelligence and counter-drone technologies for governments and agencies.

Eric Trump joined Space-Eyes as its third-largest investor and a strategic adviser.

Space-Eyes has agreed to merge with a special purpose acquisition company (SPAC) called McKinley Acquisition Corp. in a deal expected to close in the fourth quarter.

The SPAC merger values the combined company at $638 million, including cash held by the SPAC.

The proposed directors include retired U.S. Army Lieutenant Colonel Jim Reese, former Morgan Stanley investment banking chief Terry Meguid, Wharton School professor Harbir Singh, and aerospace entrepreneur Norm Christensen.

What Happens Next

01Space-Eyes to complete SPAC merger with McKinley Acquisition Corp.
02Combined company to trade on Nasdaq under ticker CUAS, subject to approvals.

How It Developed

Space-Eyes agreed to go public in the fourth quarter through a SPAC merger with McKinley Acquisition Corp.
The deal valued the combined company at $638 million, with an enterprise value of $370 million for the operating business.
Space-Eyes plans to appoint retired U.S. Army Lieutenant Colonel Jim Reese, former Morgan Stanley investment banking chief Terry Meguid, Wharton professor Harbir Singh, and aerospace entrepreneur Norm
Eric Trump joined Space-Eyes as its third-largest investor and strategic adviser in the second quarter.
The combined company is expected to trade on Nasdaq under the ticker symbol CUAS, pending approvals.

Sources

T1
Eric Trump-backed Space-Eyes to appoint ex-Delta Force officer and ex-banker, sources sayReuters

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