Rocket Lab Corporation announced on September 15, 2026, that it has successfully completed an At-The-Market (ATM) equity offering to fully fund its pending acquisition of Iridium Communications Inc.
Under the ATM program, Rocket Lab issued approximately 29.3 million shares of common stock, generating gross proceeds of approximately $1.944 billion before commissions and offering expenses. The company stated that these proceeds, combined with available liquidity, are sufficient to cover the anticipated cash payments required to complete the transaction.
In conjunction with the equity raise, Iridium entered into a Consent and Amendment No. 4 to its existing credit agreement. This amendment, agreed upon by the requisite lenders, modifies the definition of "Change of Control" to exclude Rocket Lab's pending acquisition of Iridium. As a result, the $1.775 billion term loans outstanding under Iridium's facility will remain in place following the deal's completion. Additionally, Rocket Lab USA, Inc. will provide an unsecured guarantee of the Iridium term loans upon the closing of the acquisition.
Rocket Lab also terminated its $3.6 billion senior secured bridge debt commitment, which had been established in June 2026. The company expects the acquisition to be completed in mid-2027, pending regulatory approvals and other closing conditions.
