Rocket Lab secures shareholder approval for $8 billion Iridium acquisition

Iridium Communications shareholders have overwhelmingly approved a merger agreement to be acquired by Rocket Lab in a deal valued at approximately $8 billion. In a special meeting, roughly 99.6% of votes cast supported the transaction, representing about 81% of Iridium’s outstanding shares entitled to vote.

Under the terms of the agreement, Iridium stockholders will receive $27.00 in cash plus Rocket Lab stock for each share held. The exchange ratio for the stock component is subject to a collar between $67.50 and $112.50 per share. The merger is expected to close by mid-2027, pending regulatory approvals and other customary closing conditions.

The acquisition is intended to transform Rocket Lab from a launch and spacecraft component provider into a vertically integrated space company that owns and operates its own global satellite communication network.

Separately, Rocket Lab continues its operational activities, recently completing its 97th Electron rocket launch. This mission successfully deployed the 13th StriX satellite for the Japanese earth observation operator Synspective into orbit. Meanwhile, Cathie Wood’s ARK funds have continued to increase their position in Rocket Lab stock, purchasing over 359,000 shares recently.