Rocket Lab Rises 3% on Iridium Deal Optimism; SpaceX and AST SpaceMobile Slip 1%
The company raised 29.3 million shares and amended Iridium’s term loan to secure permanent financing for the pending acquisition, officials said.
- On Tuesday, Rocket Lab Corporation completed a $1.944 billion at-the-market equity offering by issuing 29.3 million shares, securing the cash needed to fund its pending acquisition of Iridium Communications.
- To streamline capital, Rocket Lab terminated its $3.6B senior secured debt bridge facility and amended Iridium's existing $1.775 billion credit facility, with Rocket Lab USA providing a parent guarantee upon closing.
- CFO Adam Spice said the Iridium deal provides the "application piece," making it "incredibly transformational" and fulfilling Rocket Lab's ambition to become a fully integrated space operator.
- Investors responded positively to the financing progress, with Rocket Lab stock rising 3% in Tuesday trading ahead of a special shareholder vote scheduled for September 24.
- Pending regulatory approvals, the transaction is expected to close in mid-2027 as Rocket Lab continues developing its reusable Neutron rocket while integrating Iridium's satellite communications business.
13 Articles
13 Articles
Rocket Lab fully funds Iridium deal
Rocket Lab was awarded ‘Best M&A’ at the Novaspace World Space Business Week in Paris on September 15th in recognition of its acquisition of satellite operator Iridium. The deal will close in mid-2027 once the usual regulatory approvals have been met. But Rocket Lab has also announced that it has fully funded its Iridium acquisition. […]
24/7 Wall St.
BizTocRocket Lab Rises 3% on Iridium Deal Optimism; SpaceX and AST SpaceMobile Slip 1%
Rocket Lab Corporation (NASDAQ:RKLB) stock is rising 3% to $64.14 in Tuesday morning trading as investors respond to progress on the company’s planned acquisition of Iridium Communications. Rocket Lab completed a $1.944 billion at-the-market equity offering, giving Rocket Lab enough financing to cover the cash portion of the roughly $8 billion transaction and related costs. […]
Rocket Lab (NASDAQ: RKLB) Completes $1.94B Stock Offering To Fully Fund $8B Iridium (NASDAQ: IRDM) Acquisition
Rocket Lab (NASDAQ: RKLB) has secured full financing for its planned $8 billion acquisition of Iridium Communications (NASDAQ: IRDM), eliminating a significant funding overhang that had weighed on the deal. The company completed a $1.94 billion at-the-market stock offering, selling approximately 29.3 million shares to equity investors in the open market. Combined with available cash […]
The Toronto Star
Rocket Lab Fully Funds Iridium Acquisition, Including Completion of $1.94 Billion ATM
Iridium Acquisition Now Fully Financed: Rocket Lab completes the $1.944 billion At-The-Market (ATM) equity offering, securing the required cash consideration (alongside available liquidity) to fully fund its pending acquisition of Iridium Communications - expected to close in mid-2027, pending regulatory…
Rocket Lab fully funds Iridium acquisition after $1.94 billion share sale and drops $3.6 billion bridge facility
Rocket Lab said it has fully financed its pending acquisition of Iridium Communications after completing an at-the-market equity programme that raised approximately $1.944 billion in gross proceeds
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