Former investment banker Raphael Roettgen had to abandon a space-focused special purpose acquisition company in 2022 as hype around mergers with blank-check shell companies turned radioactive. Four years later, he’s back after helping raise more than $200 million to take a private space company public.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...