Space-Eyes, a drone technology company, announced on Friday the appointment of four new members to its post-merger board of directors as it prepares to go public. The new directors include retired U.S. Army Lieutenant Colonel Jim Reese, former Morgan Stanley investment banking head Terry Meguid, Wharton School professor Harbir Singh, and aerospace entrepreneur Norm Christensen. The company stated the appointments are intended to provide expertise in national security and corporate governance as the firm moves toward manufacturing and global sales.
The Miami-based company agreed last month to go public through a merger with McKinley Acquisition Corp., a special purpose acquisition company (SPAC). A SPAC is a shell company that raises money through an initial public offering to acquire an existing private company. The deal, expected to close in the fourth quarter, values the combined entity at $638 million and assigns an enterprise value of $370 million to the operating business.
Space-Eyes develops artificial intelligence software for geospatial intelligence and systems to counter unmanned aerial threats. While the company reported $1 million in annual revenue, its valuation is based on projected demand for military intelligence software rather than current earnings. The company previously developed algorithms for the U.S. Space Force and has participated in military exercises in Alaska, Guam, and the Mariana Islands.
For the defense industry and government agencies, the company’s expansion represents a shift from research and development into active manufacturing through third-party partners. Space-Eyes’ Morpheus system, designed to detect and mitigate drone threats, will be part of this rollout. Because the company’s valuation relies on anticipated demand for autonomous defense technologies, the financial outcome for shareholders will depend on the firm's ability to secure contracts following its public listing.
The presence of the son of U.S. President Donald Trump as a strategic adviser and major investor draws attention to the intersection of private defense contracting and executive branch associations. Peter Wright, CEO of McKinley Acquisition Corp., stated that Eric Trump provides insight into drone risks for high-profile properties and defense technology investment. The company has clarified that while Eric Trump helped introduce board candidates, he will not hold a seat on the board of directors himself. The merger is scheduled for completion by the end of the fourth quarter of 2026.