Rocket Lab Shares Rise as FCC Accepts License Transfer Application for Iridium Deal
Rocket Lab (NASDAQ:RKLB) shares rose nearly 6% after the Federal Communications Commission accepted its license-transfer application related to a proposed acquisition of Iridium Communications. The move marks an early procedural step in regulatory review and removes the risk that the process could stall before public comments begin, but it is not final approval. Iridium (NASDAQ:IRDM) shares barely moved up 0.2%, as market participants appear to be pricing in fixed deal terms rather than reacting strongly to Thursday's development. Rocket Lab has already secured $1.94 billion through an equity sale and amended financing, removing the risk of a funding shortfall for the acquisition. SpaceX (NASDAQ:SPCX) submitted comments questioning Iridium’s conduct toward rival satellite operators but did not oppose the deal itself. The ARK Space Exploration & Innovation ETF also rose 2%, outpacing broader market gains.
Topics: FCC clearance M&A stock movement