Rocket Lab completes $1.94B share sale to fund Iridium acquisition

Rocket Lab Corporation (Nasdaq: RKLB) announced it has completed a $1.944 billion at-the-market equity offering and secured amended debt terms to fully finance its pending acquisition of Iridium Communications Inc., according to a Sept. 15, 2026 press release.

The ATM program raised approximately $1.944 billion in gross proceeds through the issuance of 29.3 million shares. Rocket Lab said it intends to use the net proceeds to fund cash payments required under the acquisition. If the deal does not close or excess proceeds remain, the company said it plans to use the funds for general corporate purposes and potential future acquisitions.

Separately, Iridium amended its existing $1.775 billion term loan credit facility to permit the change of control associated with the acquisition. Under the amendment, Rocket Lab USA, Inc., the company's primary operating subsidiary, will provide an unsecured guarantee of the Iridium term loan upon closing. Rocket Lab said this arrangement provides long-term financing supported by Iridium's free cash flow.

In connection with completing the credit facility amendment, Rocket Lab terminated its $3.6 billion senior secured bridge facility, which had been entered into when the merger agreement was signed on June 28, 2026.

The acquisition is expected to close in mid-2027, pending regulatory approvals. The Registration Statement on Form S-4 related to the transaction was declared effective by the Securities and Exchange Commission on Aug. 26, 2026, and Iridium's definitive proxy statement was filed the same date.

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