Iridium Shareholders Approve Rocket Lab Takeover
The vote removes a major shareholder hurdle and pushes the deal toward a planned mid-2027 close while regulatory sign-offs, financing and integration still must be completed.
Overview
- Iridium shareholders voted overwhelmingly in favor of the transaction on September 24, with about 99.6% of votes cast supporting the deal and roughly 81% of outstanding shares represented at the special meeting.
- Under the agreement Iridium holders will receive $27 in cash plus Rocket Lab stock determined by a collared exchange ratio, giving a notional value of $54 per Iridium share.
- Markets reacted positively: Rocket Lab shares rose about 5% on the day, ARK Invest bought roughly $25 million of stock this week, and Rocket Lab won a place on the U.S. Space Force NITE-STAR contract vehicle.
- The merger still requires regulatory approvals and customary closing conditions and depends on Rocket Lab executing financing plans and completing operational integration ahead of the mid-2027 expected close.
- Analysts give mixed views because Rocket Lab remains unprofitable, investors cite financing and integration risks, and the next things to watch are regulatory reviews, Rocket Lab’s funding moves, and operational progress on its Neutron launch program.