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C5 Acquisition Corp. completed a $287.5 million initial public offering on January 11, 2022, selling 28.75 million units for $10 each. The SPAC was led by Robert Meyerson, Blue Origin’s former president, and said it intended to focus on national-security innovation in space, cybersecurity, and energy transition—while retaining the option to pursue a deal in any industry.
What C5 Acquisition Corp. raised
C5 sold 28.75 million units at $10 apiece, producing $287.5 million in gross IPO proceeds. That total included 3.75 million units issued after underwriters fully exercised their over-allotment option. The company announced the IPO’s completion on January 11, 2022. C5’s completion announcement
The $287.5 million figure is the IPO’s gross proceeds, not the total amount placed in the trust account. C5’s filing separately says $293.25 million in aggregate offering proceeds from the IPO and certain private-placement proceeds went into trust. It also describes a private sale of 15,035,500 warrants for $15,035,500. Those private-placement amounts should not be counted as IPO proceeds. C5’s filing
Who led the SPAC?
Robert Meyerson was C5’s CEO. The company identified him as the former president of Blue Origin in its January 6, 2022, IPO-pricing release. GeekWire reported that Meyerson led Blue Origin from 2003 to 2018 and later became an operating partner at C5 Capital; those career details are secondary-source reporting. C5’s pricing release GeekWire’s report
#1 Best Overall
- EXPERT MODEL-ROCKET-BUILDING KIT: The Estes Pro Series II New Glenn kit offers serious rocketeer enthusiasts ages 18+ a hands-on experience in creating a 1:100-scale model of the Blue Origin New Glenn. It includes the rocket parts, design decals, recovery parachute, and instructions. It requires Estes rocket engines, starters, pro series recovery wadding, pro series launch pad system, and 6 high-quality 1.5-volt AA alkaline batteries (sold separately).
- SOARS UP TO 500 FT.: The 1:100 scale Blue Origin New Glenn delivers strong, dramatic liftoffs that match its commanding scale soaring up to 500 ft. (152 m) with Estes F15-4 rocket engine (sold separately).
- READY TO ASSEMBLE: This pro series expert model kit requires about 3+ hours of assembly time. Then pair it with an Estes Pro Series II Launch Pad and Pro Series II Controller (sold separately).
- SAFETY FIRST, FUN ALWAYS: Our rockets and rocket launch accessories are designed to be used with the NAR (National Association of Rocketry) model-rocket safety code. Always ensure you have an appropriate launch site, stand back at least 15 ft., insert the safety key, issue a countdown, and then you can let your rocket fly!
- WE IGNITE IMAGINATIONS: Since 1958, Estes has created educational rocket kits designed for an unforgettable launch experience. As a family-owned company, we have grown to offer exciting STEM products that engage aspiring rocketeers and the future minds of aerospace.
GeekWire also reported that C5 Capital sponsored the SPAC; that Steve Demetriou, chair and CEO of Jacobs Engineering, was its non-executive board chair; and that David Glickman served as CFO and chief business development officer. These are organizational details reported by GeekWire, rather than details established by the IPO completion announcement. GeekWire’s report
What C5 said it would target
C5 described its intended focus as businesses at the leading edge of national-security innovation in three sectors: space, cybersecurity, and energy transition. That was a stated focus, not a restriction: the company also said it could pursue an initial business combination with a company in any industry. C5’s pricing release
What an IPO unit included
C5’s units began trading on the New York Stock Exchange on January 7, 2022, under the symbol CXAC.U. Each unit contained one Class A common share and one-half of one redeemable public warrant. Two units therefore represented one whole warrant, in addition to two shares. C5’s unit-trading announcement
Rank #2
- BEGINNER MODEL ROCKET SET: The Estes Athena model rocket gives kids ages 10+ and beginners an easy way to experience real rocket launches with no building required! This ready-to-fly model rocket kit includes a fully prepared rocket with a parachute. This rocket requires Estes rocket engines, a launch pad system, Starters, Recovery Wadding, and 4 high-quality 1.5-volt AA alkaline batteries (sold separately) for launch use.
- SOARS UP TO 1,125 FT.: Our high-flying Athena rocket features a bright 12-inch parachute for safe recovery and soars up to a projected altitude of 1,125 ft. (343 m) with a C6-7 engine (sold separately). It is also compatible with the A8-3, B4-4, B6-4, and C6-5 rocket engines.
- READY TO FLY: Rocket-building kits are creative, educational gift ideas for Christmas or special-occasion surprises! This beginner-friendly Athena rocket comes fully assembled and just takes 15 minutes of preparation time. This model pairs with the Porta Pad II Launch Pad and Electron Beam Launch Controller (sold separately) for blastoff.SAFETY FIRST, FUN ALWAYS: Our rockets are designed to be used with the NAR (National Association of Rocketry) model-rocket safety code. Always ensure you have an appropriate launch site, stand back at least 15 ft., insert the safety key, issue a countdown, and then you can let your rocket fly!
- SAFETY FIRST, FUN ALWAYS: Our rockets are designed to be used with the NAR (National Association of Rocketry) model-rocket safety code. Always ensure you have an appropriate launch site, stand back at least 15 ft., insert the safety key, issue a countdown, and then you can let your rocket fly!
- ESTES EDUCATION: Since 1958, Estes has created educational rocket kits designed for an unforgettable launch experience. As a family-owned, US-based company, we offer exciting and engaging STEM products for all interests, skills, and power levels.
Each whole public warrant entitled its holder to buy one Class A share for $11.50, subject to adjustment. A unit was therefore a package of securities, not a single share; the warrant component carried a separate exercise price. C5’s completion announcement C5’s unit-trading announcement
Key dates
- January 6, 2022: C5 announced pricing for a 25 million-unit IPO at $10 per unit, with a potential 3.75 million-unit over-allotment. C5’s pricing release
- January 7, 2022: Units were scheduled to begin trading on the NYSE as CXAC.U. C5’s pricing release
- January 11, 2022: C5 announced completion of the 28.75 million-unit offering after full exercise of the over-allotment option. C5’s completion announcement
What this announcement does—and does not—establish
The announcement establishes the size and terms of C5’s January 2022 IPO, its CEO at the time, and its stated acquisition focus. It does not establish what happened to C5 after the IPO, whether it later completed a business combination, or its present corporate status. Those questions require later company or SEC records.
Quick Recap
Rank #4
- BEGINNER MODEL-ROCKET-BUILDING KIT: The Saturn V rocket model kit allows ages 10+ to display or launch a 1:200 scale model of the Apollo II Saturn V. It includes the rocket parts, design decals, a recovery parachute, and instructions. It requires rocket engines, Starters, Recovery Wadding, a launch pad system, and 4 high-quality 1.5-volt AA alkaline batteries for launch use (sold separately).
- SOARS UP TO 200 FT.: Our replica Saturn V model rocket features a projected altitude of 200 ft. (61 m) on a C6-3 Estes rocket engine (sold separately). It is also compatible with a C5-3 rocket engine.
- READY TO FLY: Rocket launch sets are creative, educational gift ideas for Christmas Day or special-occasion surprises! Our completed beginner rocket kit comes decorated and ready to launch after only 15 minutes of preparation. Get outside faster and prepare for blastoff with the included Porta Pad II Launch Pad and Electron Beam Launch Controller!
- SAFETY FIRST, FUN ALWAYS: Our rockets and rocket launch accessories are designed to be used with the NAR (National Association of Rocketry) model-rocket safety code. Always ensure you have an appropriate launch site, stand back at least 15 ft., insert the safety key, issue a countdown, and then you can let your rocket fly!
- WE IGNITE IMAGINATIONS: Since 1958, Estes has created educational rocket kits designed for an unforgettable launch experience. As a family-owned company, we have grown to offer exciting STEM products that engage aspiring rocketeers and the future minds of aerospace.
Rank #3
- BEGINNER MODEL-ROCKET LAUNCH SET: The Tandem-X rocket-model launch set offers adults and kids ages 10+ hours of fun during the holidays as they complete and launch our Amazon and Crossfire ISX rocket models. This set includes the easy-to-assemble Amazon model parts, the Crossfire ISX model parts, parachutes, and the launch pad system. It requires rocket engines, Starters, Recovery Wadding, and 4 high-quality 1.5-volt AA alkaline batteries for launch use (sold separately).
- 2 SOARING ALTITUDE HEIGHTS: Our Tandem X set offers a high-performing power duo with our giant 30-inch Amazon model (600-foot projected altitude with a C6-5 rocket engine) and our streamlined 15.6-inch Crossfire ISX model (1,150-foot projected altitude with a C6-7 rocket engine). Other compatible Estes model-rocket engines for Amazon model: B4-2, B4-4, B6-2, B6-4, C5-3, and C6-3. Other compatible engines for Crossfire ISX: A8-3, B4-4, B6-4, and C6-5. All engines sold separately.
- READY TO ASSEMBLE: Our beginner model-rocket launch set comes with 2 build options. The precolored Amazon model features plastic fins and self-stick graphics and can be built in an hour. The Crossfire ISX model comes with laser-cut wood fins, self-stick decals, and aerodynamic parts. Pair the rockets with the included Porta Pad II Launch Pad and Electron Beam Launch Controller for a hands-on educational activity or a unique Christmas gift for a budding scientist or a space aficionado.
- SAFETY FIRST, FUN ALWAYS: Our rockets and rocket launch accessories are designed to be used with the NAR (National Association of Rocketry) model-rocket safety code. Always ensure you have an appropriate launch site, stand back at least 15 ft., insert the safety key, issue a countdown, and then you can let your rocket fly!
- WE IGNITE IMAGINATIONS: Since 1958, Estes has created educational rocket kits and displays designed for an unforgettable aerospace experience. As a family-owned company, we have grown to offer exciting STEM products that engage aspiring rocketeers and the future minds of aerospace.
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