By Connor Hart
Rocket Lab National Security and Stoke Space Technologies were awarded a contract worth up to $5.6 billion to provide rocket-launch services for the U.S. Air Force.
The Defense Department said Thursday that the companies received $10 million at the time of the award, which the Pentagon defined as a multiple-award, firm-fixed-price, indefinite-delivery/indefinite-quantity contract.
The contract will include a four-year, two-month ordering period, set to last through June 2029. It will include an option for an additional ordering period of five years.
Under the contract, the companies will deliver National Security Space payloads into their intended orbits. The location of performance will be determined at the task order level, the Pentagon said.
Rocket Lab shares rise 8.2%, to $19.93, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 27, 2025 18:28 ET (22:28 GMT)
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