- Iridium stockholders approved the previously announced merger under which Rocket Lab will acquire the satellite communications operator.
- Approximately 99.6% of votes cast were in favor, representing roughly 81.0% of Iridium's outstanding common shares.
- Consideration is $27.00 in cash plus Rocket Lab common stock at an exchange ratio subject to a collar, for a notional value of $54.00 per Iridium share.
- The transaction is expected to close by mid-2027, pending remaining regulatory approvals and customary closing conditions.
- Rocket Lab frames the combination as merging Iridium's global network, spectrum and operating experience with its launch and space systems capabilities.
Quotes
“We appreciate the strong support of our stockholders for this transaction and the bright future we are building with Rocket Lab”
“Today's vote is an important milestone in bringing together Rocket Lab and Iridium to create a next generation space powerhouse”