Rocket Lab USA Inc.Rocket Lab raised $1.944B via an at-the-market share sale and terminated its $3.6B bridge facility, fully funding and de-risking the Iridium acquisition.
Rocket Lab has raised $1.944B in gross proceeds from its at-the-market share sale, issuing 29.3M shares to help finance its pending acquisition of Iridium Communications. The company said the proceeds, together with Iridium's existing term loan and other available funds, are sufficient to fund the required cash consideration and related transaction costs. Iridium amended its existing $1.775B credit facility to permit the change of control, providing long-term financing backed by its free cash flow and a parent guarantee from Rocket Lab USA. Rocket Lab also terminated its $3.6B bridge facility, de-risking the capital structure ahead of the planned mid-2027 close of the Iridium acquisition.
Rocket Lab USA Inc.Rocket Lab raised $1.944B via an at-the-market share sale and terminated its $3.6B bridge facility, fully funding and de-risking the Iridium acquisition.
Iridium Communications IncIridium amended its $1.775B credit facility to permit the change of control, securing long-term financing backed by free cash flow and a Rocket Lab parent guarantee for the acquisition.