Astro Digital, Proem Acquisition Ink Merger Deal

(RTTNews) - Astro Digital, US, Inc., a maker and operator of mission-configurable satellites, and Proem Acquisition Corporation I (PAAC), a special purpose acquisition company, announced on Monday that they have inked a merger deal. The merger values Astro Digital at a pro forma post-money enterprise value of around $587 million. Chris Biddy, CEO of Astro Digital, said: "This transaction with Proem will enable us to increase our sales force and production capacity, and expand into new verticals, while preserving the discipline that got us here." The merger is anticipated to be closed in the first quarter of 2027. Post transaction, Proem will be renamed Astro Digital Holdings, Inc. and is expected to trade on Nasdaq.