Space-Eyes plans to list publicly in Q4 2026 by merging with McKinley Acquisition Corp., subject to shareholder and regulatory approvals and customary closing conditions. The announced transaction values the pro forma combined company at $638 million in equity value, while placing Space-Eyes’ operating business at a $370 million enterprise value. 112

• Funding and consideration: McKinley is expected to contribute about $176 million of SPAC trust cash, assuming no redemptions. The deal also contemplates up to $80 million of additional shares if specified performance targets are met, plus a planned $12 million private-investment tranche. These are proposed transaction terms, not assured cash proceeds. 112

• Use of proceeds and listing: Space-Eyes has said the capital is intended to expand manufacturing capacity and global sales. The combined company is expected to trade on Nasdaq as “CUAS,” a reference to counter-uncrewed-aircraft systems. 612

• Business and technology: The Miami-based company develops AI-powered geospatial-intelligence and counter-drone systems for governments and agencies. Its CATE AI engine is intended to fuse inputs such as radar, RF, and satellite feeds into a shared operating picture; its sensor-agnostic counter-UAS tools are designed to detect, track, identify, and mitigate unauthorized or hostile drones. 356

• Morpheus’s significance: Morpheus is the company’s active counter-drone system. Space-Eyes markets it as able to identify, hack, and neutralize hostile drones, making it central to the company’s claim that it can move beyond surveillance into drone defeat for defense sites, critical infrastructure, borders, and large public venues. Those capability descriptions are company disclosures and should not be treated as independently validated operational results. 713

• Defense record: Chief executive Jatin Bains said Space-Eyes had previously been selected by the U.S. Space Force to develop and test algorithms, and the company has participated in military exercises. That history is important because it suggests prior government engagement, but it does not by itself establish a current production contract or a guaranteed revenue stream. 38

• Proposed board additions: Four expected post-combination directors are:

  • James “Jim” Reese: retired U.S. Army lieutenant colonel and former Delta Force officer, adding national-security, intelligence, and operational experience. 215
  • Harbir Singh: Wharton professor, bringing strategy, governance, and mergers-and-acquisitions expertise. 1415
  • Norm Chambers: aerospace-and-defense entrepreneur, contributing defense-manufacturing and industry operating experience. 1415
  • Alexei Kireyev: former senior investment-banking executive, adding capital-markets and global-finance expertise. 214

• Eric Trump: He is Space-Eyes’ third-largest investor and is expected to serve as a strategic adviser, rather than a director of the post-merger board. 2612

The key investment issue is execution: Space-Eyes is positioning itself in the fast-growing counter-drone market, but the transaction’s cash outcome depends heavily on SPAC redemptions, financing completion, and the company’s ability to translate exercise participation and technology claims into scaled government and commercial orders. 13

Space-Eyes plans to list publicly in Q4 2026 by merging with McKinley Acquisition Corp., subject to shareholder and regulatory approvals and customary closing conditions. The announced transaction values the pro forma combined company at $638 million in equity value, while placing Space-Eyes’ operating business at a $370 million enterprise value. 112

• Funding and consideration: McKinley is expected to contribute about $176 million of SPAC trust cash, assuming no redemptions. The deal also contemplates up to $80 million of additional shares if specified performance targets are met, plus a planned $12 million private-investment tranche. These are proposed transaction terms, not assured cash proceeds. 112

• Use of proceeds and listing: Space-Eyes has said the capital is intended to expand manufacturing capacity and global sales. The combined company is expected to trade on Nasdaq as “CUAS,” a reference to counter-uncrewed-aircraft systems. 612

• Business and technology: The Miami-based company develops AI-powered geospatial-intelligence and counter-drone systems for governments and agencies. Its CATE AI engine is intended to fuse inputs such as radar, RF, and satellite feeds into a shared operating picture; its sensor-agnostic counter-UAS tools are designed to detect, track, identify, and mitigate unauthorized or hostile drones. 356

• Morpheus’s significance: Morpheus is the company’s active counter-drone system. Space-Eyes markets it as able to identify, hack, and neutralize hostile drones, making it central to the company’s claim that it can move beyond surveillance into drone defeat for defense sites, critical infrastructure, borders, and large public venues. Those capability descriptions are company disclosures and should not be treated as independently validated operational results. 713

• Defense record: Chief executive Jatin Bains said Space-Eyes had previously been selected by the U.S. Space Force to develop and test algorithms, and the company has participated in military exercises. That history is important because it suggests prior government engagement, but it does not by itself establish a current production contract or a guaranteed revenue stream. 38

• Proposed board additions: Four expected post-combination directors are:

  • James “Jim” Reese: retired U.S. Army lieutenant colonel and former Delta Force officer, adding national-security, intelligence, and operational experience. 215
  • Harbir Singh: Wharton professor, bringing strategy, governance, and mergers-and-acquisitions expertise. 1415
  • Norm Chambers: aerospace-and-defense entrepreneur, contributing defense-manufacturing and industry operating experience. 1415
  • Alexei Kireyev: former senior investment-banking executive, adding capital-markets and global-finance expertise. 214

• Eric Trump: He is Space-Eyes’ third-largest investor and is expected to serve as a strategic adviser, rather than a director of the post-merger board. 2612

The key investment issue is execution: Space-Eyes is positioning itself in the fast-growing counter-drone market, but the transaction’s cash outcome depends heavily on SPAC redemptions, financing completion, and the company’s ability to translate exercise participation and technology claims into scaled government and commercial orders. 13