What Happened
Iridium Stockholders to Receive Cash and Rocket Lab Stock in Proposed Merger
Rocket Lab Corporation has agreed to acquire Iridium Communications Inc. in a two-step merger, with Iridium stockholders set to receive $27 in cash and Rocket Lab stock per share. The transaction, which requires approval by holders of a majority of outstanding Iridium shares, is expected to close in mid-2027. Rocket Lab plans to fund the cash consideration with a combination of balance-sheet cash and external financing, including a committed $3.6 billion senior secured bridge facility. The merger is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes. This deal was first reported by Unknown Source.