Space ETF Adds 8 New Companies Including 7 That Completed SPAC Mergers: What Investors Should Know

The International Space Station (ISS) photographed by Expedition 56 crew members from a Soyuz spacecraft after undocking, on Oct. 4, 2018. NASA/Roscosmos

A pure-play space ETF offering investors exposure to growth in the sector announced its semi-annual rebalancing and reconstitution. The news brings eight new companies to the ETF, including seven that went public via SPAC merger.

What Happened

The Procure Space ETF announced the addition of eight new names to the space-themed ETF.

The new companies added to the fund are:

Arqit Quantum

Cybersecurity company Arqit Quantum Inc. plans to supply encryption services against cyber threats. The company uses satellites connected to secure networked devices on Earth.

Astra Space

A SPAC deal in February made Astra Space Inc. the first publicly-listed space launch company. Astra designs and manufactures launch vehicles. The company reached commercial orbit in November, becoming one of only four privately-funded companies to reach orbit. The company also reached orbit faster than rival SpaceX.

BlackSky Technology

Satellite company BlackSky Technology Inc. uses artificial intelligence and machine learning on its satellites for Earth observation.

Momentus

Space company Momentus Inc. is seeking to be a last-mile delivery provider for space. The company operates in transportation, satellites, and orbit services for space partners.

Mynaric

Laser-based communication company Mynaric ADS went public in November with a traditional IPO. The company helps provide long-distance transmission between moving objects.

Redwire

Space infrastructure company Redwire Corp. has more than 50 years of experience in space flights and over 150 missions flown. The company’s services enable nearly every space mission including every U.S. mission to Mars, missions to Pluto, and landing on multiple asteroids. The company also operates in the 3D printing market, printing tools in space.

Rocket Lab

Space launch company Rocket Lab is the second most frequently used U.S. orbital rocket company, trailing only SpaceX. The company has completed launches to space and helped partners deploy satellites.

Spire Global

Satellite company Spire Global Inc. uses data and analytics to provide advanced tracking for sectors including maritime, aviation, and weather services.

Why It’s Important

All eight added companies went public within the last six months. Mynaric went public via traditional IPO and the other seven completed SPAC mergers.