On June 29, Rocket Lab USA rose 9.09% in regular trading, trading around $92.25 per share with turnover of approximately $507 million. The surge was driven by the announcement of a landmark acquisition agreement with Iridium Communications.

Rocket Lab and Iridium jointly announced a definitive agreement under which Rocket Lab will acquire all outstanding Iridium common shares at $54 per share in a cash-and-stock transaction valued at approximately $8 billion. As part of the financing arrangement, Rocket Lab has secured a $3.6 billion 364-day senior secured bridge term loan commitment from Deutsche Bank and Wells Fargo, with the remaining cash portion to be funded through balance sheet cash and a combination of debt and equity financing. The transaction is expected to close by mid-2027.

The deal aims to combine Rocket Lab's rocket launch and satellite manufacturing capabilities with Iridium's global satellite communications network, spectrum assets, and ecosystem of over 500 partners, creating a fully vertically integrated aerospace enterprise positioned to compete more effectively against rivals such as SpaceX. KeyBanc had previously upgraded the stock to Overweight with a $135 price target.

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