Iridium Communications Inc. (Nasdaq: IRDM) announced on September 24, 2026, that its stockholders have approved the previously announced merger agreement with Rocket Lab Corporation (Nasdaq: RKLB). The special meeting was held to vote on the Agreement and Plan of Merger, dated June 28, 2026, which outlines the terms for Rocket Lab to acquire Iridium.
According to the filing, the transaction involves two steps. First, Merger Sub I, a wholly owned subsidiary of Rocket Lab, will merge with and into Iridium. Iridium will then continue as the surviving corporation. Second, the surviving corporation will merge with and into Merger Sub II, another subsidiary of Rocket Lab, with Merger Sub II continuing as the surviving entity.
The voting results indicate strong support from Iridium shareholders. At the Special Meeting, approximately 81.38% of the total outstanding shares were represented by proxy. Proposal 1, which was to adopt the Merger Agreement, received 85,862,105 votes in favor, 318,415 against, and 67,862 abstentions. Proposal 2, which was an advisory vote on golden parachute compensation for named executive officers, received 74,461,703 votes in favor, 10,948,729 against, and 837,950 abstentions.
The transaction has a notional value of $54.00 per share of Iridium common stock. Under the terms, Iridium stockholders will receive $27.00 in cash and a number of shares of Rocket Lab common stock, calculated via an exchange ratio subject to a collar, for each share of Iridium common stock outstanding at closing.
Iridium and Rocket Lab stated that the Mergers are expected to close in mid-2027. The completion of the transaction is subject to the satisfaction of remaining closing conditions, including the receipt of required regulatory approvals.
