Rocket Lab completes $1.94B ATM to fund Iridium

Rocket Lab said on September 15 it finished a $1.944 billion at-the-market equity sale of 29.3 million shares, enough with existing cash to fund the cash portion of its pending Iridium Communications acquisition. Iridium also amended its $1.775 billion term loan so lenders consent to the change of control, with Rocket Lab USA set to guarantee the loan unsecured at close, and Rocket Lab terminated the $3.6 billion senior secured bridge facility signed in June. Close remains targeted for mid-2027, still subject to the September 24 Iridium stockholder vote and remaining regulatory approvals.