NorthStar Earth & Space

Approved

Industrials · space domain awareness services · 96 employees

What it is: Space and satellite data analytics company that provides a Space Domain Awareness (SDA) solution to monitor, detect, and react to active space threats using proprietary AI/ML models, space-based sensors, and a source-agnostic data pipeline.
What it’s doing now: Merging with Viking Acquisition Corp I (VACI) — approved, announced Apr 16, 2026; shareholder vote Sep 2, 2026; expected close Q3 2026.
What you should know: The real share count puts the effective valuation 114% above the announced $300M.

The business, per its filings

SEC primary

Space and satellite data analytics company that provides a Space Domain Awareness (SDA) solution to monitor, detect, and react to active space threats using proprietary AI/ML models, space-based sensors, and a source-agnostic data pipeline.

Source: 425, accession 0001213900-26-094382

What the company says about itself

Web research — not audited

What our web check found

[WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-25] 11 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space Inc., a Montreal-based company backed by $35 million in private equity funding" [https://www.exterrajsc.com/p/northstar-earth-and-space] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space secures CA$20 million in Series D financing" [https://northstar-data.com/space-situational-awareness-northstar-raises-series-d/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Canada's NorthStar Earth & Space raised a $20 million Canadian dollar ($14.7 million) Series D funding round, the company announced Dec. 6." [https://www.satellitetoday.com/finance/2023/12/07/northstar-earth-space-raises-15m-in-series-d-round/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth and Space said Jan. 5 it has raised $35 million ahead of plans to deploy its first three satellites this year" [https://spacenews.com/northstar-raises-35-million-for-debris-tracking-satellites/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space has raised $115M." [https://pitchbook.com/profiles/company/149895-91] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space has raised $134M in funding" [https://tracxn.com/d/companies/northstar-earth-space/__bGskMAFotBq_jNATzLiPpHvVKBP4irtOfJFSu5-Vub8] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The company has raised a total of $134 million over six funding rounds, with its latest Series D round in July 2024." [https://dealroom.co/companies/northstar-earth-space/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space has closed a funding round, this time a $20 million Series D financing round. C financing round raising $47 million." [https://spaceq.ca/northstar-earth-space-raises-20-million/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In January 2023, NorthStar Earth & Space Inc. raised USD 35 million in series C funding led by Cartesian Capital Group, Investissement Québec, and Telesystem." [https://www.preqin.com/data/profile/asset/northstar-earth-%26-space-inc-/525106] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Announces Closing of $230 Million Initial Public" [https://www.vikingspac.com/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "This amended filing reveals a $300 million deal to take NorthStar, a space situational awareness satellite company, public on the NYSE." [https://www.youtube.com/watch?v=jszf5AZrdU0] [WEB-INTEL 2026-08-25] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Viking Acquisition Corp. I signed Amendment No. 1 to its Business Combination Agreement with NorthStar, changing redemption timing" [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "This amended filing reveals a $300 million deal to take NorthStar, a space situational awareness satellite company, public on the NYSE." [https://www.youtube.com/watch?v=jszf5AZrdU0] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "NorthStar Earth & Space Deal Announced Apr 17, 2026 Deal Size, $M $515.40M Deal." [https://www.spacresearch.com/symbol/VACI] [WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-26] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-26] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html] [WEB-INTEL 2026-08-26] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Amendment No. 1 to its Business Combination Agreement with NorthStar Earth and Space Inc. and Viking NS Amalgamation Corp. on May 15, 2026." [https://www.stocktitan.net/sec-filings/VACI/8-k-viking-acquisition-corp-i-reports-material-event-74a4e2d9f8bb.html]

Source: company web presence · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

NorthStar Earth & Space is merging with Viking Acquisition Corp I (VACI), a $230M SPAC currently marked Deal approved and trading at $6.32 against $10.06 in trust per share.

Headline equity value	$300M
Effective valuation (all shares)	$642M+114% vs headline
Sponsor promote	25%
PIPE	$30Mcommon @ $10.00: $30 million of NorthStar shares exchanging at Closing into New Viking common shares, plus warrants convertible into warrants for 3,000,000 New Viking shares on the same terms as the N
Pro-forma shares	64.2M
Post-close ticker	NSTR

Structure per SEC accession(s) 0001213900-26-044909, 0001213900-26-088471, 0001213900-26-088493. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

What it is being valued atSEC-primary — the filed capitalisation table

What the filings actually value

They are not the same fact, and only the last one is what a valuation multiple may be struck on.

Pre-money equity value of the target$300M

What NorthStar Earth & Space Inc. on its own is valued at, before a dollar of the SPAC's trust or the PIPE reaches it. This is the price agreed for the business itself.

Pro-forma enterprise value$405.4M

The combined company net of that cash — what the buyers are paying for the BUSINESS. Every multiple below is struck on this figure and on nothing else.

What that price is, per dollar of sales

Enterprise value ÷ EBITDA — not shown

No EBITDA figure for NorthStar Earth & Space Inc. appears in any filing we hold, so no EV/EBITDA multiple is shown. We have not inferred one from a margin assumption — a multiple built on an assumed margin measures the assumption, not the company.

All figures above are stated in EX-99 investor presentation0001213900-26-044909

EX-99 press release, 0001213900-26-044909: preMoneyEquityM "$300 million". A press release is a party's own claim, not a filed table: any stated capitalisation table supersedes it.

Was this deal done at an expensive or a cheap valuation?

SpacBrain’s read on the price

No multiple can be computed

We hold no revenue figure in US dollars for NorthStar Earth & Space Inc., so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $405.4M regardless.

We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.

What the buyers are paying for the whole company$405.4M

Pro-forma enterprise value as filed.

Divided by what the company actually sells in a yearno revenue figure on file

Not extracted from the filings yet.

= what this deal pays for every dollar of those salesno multiple

Not computable — no revenue figure has been extracted from the filings yet.

What the stock market pays for its closest listed peersno comparable multiple

No listed comparable carries a revenue multiple we can use.

Common questions

Is NorthStar Earth & Space going public?

NorthStar Earth & Space has an approved merger with the SPAC Viking Acquisition Corp I (VACI), announced Apr 16, 2026. The combined company expects to trade as NSTR. Deal status: Approved.

What is NorthStar Earth & Space's SPAC deal valuation?

The announced headline equity value is $300M, but counting every share class — founder promote, PIPE and public shares — the effective valuation is $642M, 114% above the headline.

Was NorthStar Earth & Space bought at an expensive or a cheap valuation?

Does NorthStar Earth & Space have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.

Other industrials deals

Agility Robotics — with CCXI ($2.5B) · pre-revenue
Quantum Space — with IPFX ($1.2B)
WISeSat.Space — with COLA ($250M) · pre-revenue
SingAuto — with BPAC ($1.2B) · pre-revenue
Marine Thinking — with EURK ($130M)
Elroy Air — with CMII ($800M) · pre-revenue

Same sponsor’s other SPACs

VII — Viking Acquisition II · Searching