Rocket Lab Corporation (NASDAQ:RKLB) had a busy week that included a fresh Electron launch, an analyst initiation and a major financing milestone for its pending Iridium acquisition.
- Rocket Lab stock is trading at elevated levels. What’s ahead for RKLB stock?
16th Electron Launch of the Year
On September 11, Rocket Lab successfully launched its 16th Electron mission of the year, dubbed “Happily Ever Faster,” lifting off from Launch Complex 1 in New Zealand and deploying a single Earth observation satellite for a confidential customer to a 500km circular low Earth orbit. The mission marked Rocket Lab’s 95th launch overall, with the company’s next Electron launch scheduled before the end of the month.
The same day, Raymond James analyst Brian Gesuale initiated coverage of Rocket Lab with an Outperform rating and an $80 price target.
Iridium Acquisition Fully Financed
On September 15, Rocket Lab announced it had completed several critical milestones to fully finance its pending acquisition of Iridium Communications. The company completed its previously announced At-The-Market share offering, raising approximately $1.944 billion in gross proceeds through the issuance of 29.3 million shares, intended to fund cash payments under the Iridium acquisition.
Separately, Iridium amended its existing $1.775 billion term loan facility to permit the change of control, with Rocket Lab USA providing an unsecured guarantee of the loan upon closing. Rocket Lab also terminated its $3.6 billion senior secured bridge facility that had been arranged in connection with the acquisition’s merger agreement. The Iridium acquisition remains expected to close in mid-2027, pending regulatory approvals.
Rocket Lab Shares Trade Flat
RKLB Price Action: At the time of publication, Rocket Lab shares are trading 0.33% higher at $63.76, according to data from Benzinga Pro.
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