Rocket Lab completes Iridium deal financing

• Rocket Lab completed a $1.944 billion equity program to finance its pending acquisition of Iridium Communications.
• The company amended Iridium’s $1.775 billion term loan facility to support the transaction.
• Rocket Lab expects the financing to cover cash consideration, debt refinancing, and transaction costs.

Rocket Lab (NASDAQ:RKLB) completed financing for its pending acquisition of Iridium Communications by raising $1.944 billion through an at-the-market equity program and amending Iridium’s existing term loan facility.

The equity program issued 29.3 million shares and provides funding primarily for the cash consideration required for the Iridium acquisition, while the amended debt facility allows the transaction to proceed.

Iridium’s existing $1.775 billion term loan facility was amended on September 15, 2026, allowing the change of control related to the acquisition and removing the transaction from the facility’s change-of-control restrictions.

Rocket Lab said the financing, together with other unrestricted cash, is expected to provide sufficient funds for the acquisition payment, refinancing of certain Iridium debt, and related fees.

Rocket Lab develops space systems, launch services, and satellite technologies, while Iridium operates a global satellite communications network.

The acquisition is expected to combine Rocket Lab’s aerospace capabilities with Iridium’s satellite communications business, subject to closing conditions.