Rocket Lab Raises $1.94 Billion to Fund Iridium Acquisition
Rocket Lab has completed a $1.94 billion at-the-market equity offering by issuing nearly 29.3 million shares of stock, bringing the company closer to finalizing its acquisition of satellite communications firm Iridium Communications. The funds will be used to finance the proposed deal and pay down existing debt. Rocket Lab also amended its $1.77 billion credit facility in preparation for the organizational changes that come with acquiring Iridium. The previously arranged $3.6 billion bridge loan has been canceled due to these developments, which are key steps toward closing the acquisition by mid-2027. Rocket Lab's CFO emphasized that this move will transform the company from a launch and satellite builder into an end-to-end space operator with Iridium’s global communications network. The deal is expected to be approved at Iridium’s shareholder meeting on September 24, following unanimous board approvals.
Topics: Equity Offering Iridium Communications Rocket Lab Space Economy