VACI · NorthStar Earth & Space Enterprises, Inc.

Viking Acquisition Corp. I has entered into a definitive agreement to acquire NorthStar Earth and Space Inc., a company focused on space situational awareness (SSA) and space domain awareness (SDA) data analytics. The transaction is structured as a business combination involving Viking's continuation to Canada, a recapitalization of NorthStar, and an amalgamation. Strategically, the deal aims to position the combined public entity to capitalize on the growing space economy by providing monitoring services for orbital objects. Key financial terms include a $300 million pre-money valuation for NorthStar, with its equityholders receiving approximately 30 million shares of the combined company and the potential for up to 10 million additional earnout shares tied to future revenue performance. The transaction is supported by a $30 million PIPE financing, which provides committed capital, and a series of ancillary agreements designed to secure the necessary approvals and stabilize the post-closing shareholder base through lock-up provisions. The combined company intends to list on the NYSE, broadening its access to public capital markets to fund its growth plans, which include deploying a space-based sensor network. The deal is subject to customary closing conditions, including shareholder and regulatory approvals, with an anticipated completion in the third quarter of 2026.