Iridium satellite network (pending acquisition)
Iridium stockholders approved the merger in September 2026. Closing is expected in mid-2027, subject to regulatory approvals.
What it is
Iridium operates a constellation of low-Earth-orbit satellites that provide global voice and data links. Rocket Lab agreed to buy Iridium for $54 per share in notional value: $27 in cash and the rest in Rocket Lab stock, with an exchange ratio subject to a collar. The deal values Iridium at about $8 billion.
Why it matters to the stock. This would be Rocket Lab's first purchase of a publicly traded company and would turn it from a builder and launcher of satellites into an operator of a satellite network with recurring service revenue. The cash portion and the new shares add cost and dilution that investors will weigh against the deal.
News
Iridium shareholders approve Rocket Lab merger; deal expected to close mid-2027
Iridium Communications shareholders adopted the merger agreement with Rocket Lab at a special meeting on September 24, 2026.
Rocket Lab agrees to buy Iridium in about $8B cash-and-stock deal
Rocket Lab agreed to acquire satellite operator Iridium Communications, a deal valued at about $8.0 billion in enterprise value, announced June 29, 2026 under a merger agreement dated June 28.
Rocket Lab lines up $3.6B 364-day bridge loan for Iridium cash payment
Rocket Lab obtained a commitment for a 364-day, $3.6 billion senior secured bridge term loan from Deutsche Bank and Wells Fargo, dated June 28, 2026.