Iridium Communications to be Acquired by Rocket Lab in Cash and Stock Deal

Iridium Communications Inc. (IRDM) announced it has entered into a definitive merger agreement to be acquired by Rocket Lab Corporation. The agreement was signed on June 28, 2026. Under the terms of the transaction, Iridium will become an indirect wholly-owned subsidiary of Rocket Lab.

Key Details

• Merger Consideration: Iridium shareholders will receive $27.00 in cash and a variable number of Rocket Lab common shares for each Iridium share. The number of shares is determined by an exchange ratio collar based on Rocket Lab's stock price, ranging from 0.2400 to 0.4000 shares.
• Board Approval & Conditions: The Iridium board of directors has unanimously approved the agreement and recommends that stockholders vote in favor of the transaction. The deal is subject to stockholder approval, regulatory clearances (including HSR Act and FCC consent), and other customary closing conditions.
• Termination Fee: The agreement includes a termination fee of $223.62 million payable by Iridium to Rocket Lab under specified circumstances, such as terminating the deal for a superior proposal.