Wildfire fighter Bridger Aerospace to go public via SPAC
Bridger Aerospace, a Montana-based provider of aerial firefighting and wildfire surveillance services, agreed to go public via a blank check company called Jack Creek Investment Corp. The deal would value Bridger at an implied $869 million.
Why it matters: More than 60 wildfires are burning across the U.S., as climate change has significantly increased wildfire risks. The National Interagency Fire Center reported Sunday that the active number could soon rise, while the U.N. recently said to expect a 30% jump in global wildfires by 2050.
The bottom line: Bridger is a big player in aerial firefighting though they don't have the biggest planes for this task (others have DC-10, 737 tankers). Going public could help it beef up its fleet and maybe not be as beholden to government contracts every year.