Space-Eyes, a Miami-based defense technology company backed by Eric Trump, is going public on the Nasdaq through a merger with special purpose acquisition company McKinley Acquisition Corp., in a deal that values the combined entity at $638 million, according to sources and company statements published on Friday.
The definitive business combination agreement, announced on July 31, is expected to inject up to $251.7 million in gross proceeds into the combined company, with the transaction slated to close in the fourth quarter of 2026. The company describes itself as a provider of AI-driven counter-drone technology and geospatial intelligence for governments and public agencies worldwide.
Eric Trump, the son of President Donald Trump, recently became the third-largest private investor in Space-Eyes and will join the combined company as a strategic adviser focused on security matters, including drones and other emerging technologies. “He’s an important adviser who puts us in contact with people and opportunities, and an adviser who brings valuable intelligence,” a source close to the deal told Reuters.
The company’s flagship products include SeaWatch, a maritime intelligence platform that tracks vessels using satellite data and sensors, and Morpheus, an AI-powered anti-drone system designed to detect and neutralize unidentified aerial threats. Space-Eyes currently generates only about $1 million in annual revenue and remains research-and-development heavy, but it is negotiating contracts worth roughly $35 million over five years in areas such as Caribbean drug-trafficking surveillance, US prisons, and Middle East defense.
Like Palantir, Space-Eyes runs a software-only business model. It does not manufacture radars, satellites, or drones; instead, it builds the software intelligence layer that fuses data from third-party sensors. The firm plans to move toward industrial-scale production using third-party manufacturers as demand for its platforms grows.
The listing adds another layer to the Trump family’s entanglement with defense and technology deals. Eric Trump secured multiple contracts for the Trump Organization in the Middle East in 2025 and is widely seen as weighing political ambitions of his own. His role at Space-Eyes raises questions about the intersection of political influence and government security contracts.
The deal underscores how defense technology startups are again turning to SPACs to reach public markets amid rising global demand for counter-drone and geospatial intelligence tools. It also highlights the growing scrutiny of ties between political figures and firms that sell security technology to governments, with the combined company expected to trade on the Nasdaq once the merger closes.
Sources: Reuters, La DH, The News International
discussion