Bleichroeder Acquisition Corp. III entered into a definitive business combination agreement with Ursa Major Technologies on August 24, 2026. The transaction values Ursa Major at a pre-money equity valuation of approximately $1.6 billion and a post-transaction valuation of approximately $2.3 billion. The deal includes a PIPE investment totaling over $350 million, comprising a $242.5 million Series A Preferred Stock purchase and a $107.5 million Pre-Funded PIPE commitment. Concurrently, Michael Blitzer and Kevin Shannon were appointed Chairman and Co-CEO of the SPAC. Ursa Major is an aerospace and defense company specializing in hypersonics, solid rocket motors, and space mobility systems.