Rocket Lab Raises $1.94 Billion Through ATM Offering to Fund Iridium Acquisition
MT Newswires Live
Yesterday
Rocket Lab (RKLB) said Tuesday that it has completed its at-the-market equity offering, raising $1.94 billion in gross proceeds through the sale of 29.3 million shares to help fund its pending acquisition of Iridium Communications (IRDM).
Rocket Lab shares rose 4% in morning trading.
Iridium has amended its existing $1.78 billion term loan facility to allow the acquisition and will receive an unsecured guarantee from Rocket Lab USA upon closing, Rocket Lab said.
Rocket Lab said it has also terminated its $3.60 billion senior secured bridge facility. The acquisition is expected to close in mid-2027, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.