Defense-tech developer Space-Eyes to go public in $638 million SPAC merger backed by Eric Trump
- Marijan Hassan - Tech Journalist
- 8 hours ago
- 2 min read
Expanding the Trump family's footprint in the defense and national security sectors, Miami-based geospatial intelligence and counter-drone startup Space-Eyes has announced a definitive $638 million business combination agreement with special purpose acquisition company McKinley Acquisition Corp. Upon closing in the fourth quarter of 2026, the combined entity will list on the Nasdaq under the ticker symbol "CUAS".
The transaction is backed by Eric Trump, who recently became the third-largest private investor in Space-Eyes and will serve as a strategic adviser to the combined public company.
Sensor-Fusion AI and Maritime Tracking
Founded two decades ago by CEO Capt. Jatin Bains, the 35-person technology firm specializes in AI-driven counter-unmanned aerial systems (C-UAS) and geospatial intelligence platforms. Space-Eyes builds sensor-agnostic software engines, including its proprietary CATE AI, that integrate feeds from satellites, radar, radio-frequency sensors, and optical systems to detect, track, and neutralize unauthorized drone threats across military bases, borders, and critical infrastructure.
In addition to counter-drone capabilities, the company operates SeaWatch, an artificial intelligence platform focused on maritime domain awareness. SeaWatch analyzes satellite imagery and trade signals to help government agencies and commercial operators track shadow fleets, illicit shipping, illegal fishing, and physical threats to undersea infrastructure.
Strategic Guidance and Federal Expansion
In his advisory capacity, Eric Trump will assist the company in navigating defense risk factors and expanding government partnerships. Company executives noted that his role involves providing insights into security vulnerabilities faced by high-profile targets, including lessons learned from unauthorized drone activity around the White House.
"The technology Space-Eyes is developing is absolutely critical for the safety of our nation," Eric Trump said in a press release announcing the merger. "America has to lead the way, and I am proud to be part of this important mission, leveraging AI and seamless data integration for real-time insights and next-generation autonomous defense systems."
While Space-Eyes has historically operated primarily as a research-and-development developer generating about $1 million in annual revenue, the company plans to scale manufacturing via third-party partners. The merger thesis relies heavily on securing larger multi-year contracts currently under negotiation, ranging from Caribbean drug-trafficking surveillance to prison counter-drone defense.
Capitalizing on the Defense-Tech Surge
The transaction is expected to generate up to $251.7 million in gross proceeds, comprising $176.7 million from McKinley’s trust account and up to $75 million from a private investment in public equity (PIPE) financing.
The deal comes amid a broader surge in defense-technology investments, as Western governments redirect record capital toward autonomous systems, software-defined warfare, and battlefield AI. If completed, the transaction will give Space-Eyes the public equity foundation needed to scale production and compete for federal defense contracts worldwide.
