Iridium stockholders have approved the previously announced acquisition of the satellite communications company by Rocket Lab, with the transaction expected to close by mid-2027 subject to regulatory approvals and other closing conditions.
Approximately 99.6% of votes cast at a special meeting on 24 September were in favour of the transaction, representing around 81% of Iridium’s outstanding voting shares.
Under the agreed terms, Iridium stockholders will receive $27 in cash and a number of Rocket Lab shares calculated using an exchange ratio subject to a collar, giving the transaction a notional value of $54 per Iridium share.
Iridium operates a global mobile satellite network providing voice, data, messaging, positioning, navigation and timing (PNT), and connectivity for maritime users.
Rocket Lab provides launch services, spacecraft and satellite components, with its Electron and HASTE launch vehicles in operation and a larger Neutron vehicle in development.
“We appreciate the strong support of our stockholders for this transaction and the bright future we are building with Rocket Lab,” said Matt Desch, CEO, Iridium.
