www.stocktitan.net
Rocket Lab Fully Funds Iridium Acquisition, Including Completion of $1.94 Billion ATM
Rocket Lab (RKLB) has fully financed its pending acquisition of Iridium Communications by completing a $1.944 billion At-The-Market equity program and securing an amended Iridium term loan facility.The ATM program raised approximately $1.944 billion in gross proceeds through the issuance of 29.3 million shares, with Rocket Lab intending to use the net proceeds primarily for the cash consideration under the Iridium acquisition. Iridium’s existing $1.775 billion term loan facility was amended on September 15, 2026 to permit the change of control and to carve out Rocket Lab’s pending acquisition from the “Change of Control” definition. Upon closing, Rocket Lab USA will provide an unsecured guarantee of the Iridium term loan. With the amended term loan, ATM proceeds and other unrestricted cash, Rocket Lab expects to have sufficient funds to pay the required cash consideration, refinance certain Iridium debt and cover fees, allowing termination of a previously arranged $3.6 billion bridge facility.