Rocket Lab Corporation has entered into an equity distribution agreement to sell, from time to time, shares of its common stock with an aggregate offering price of up to approximately $1.94 billion. The at-the-market (ATM) offering will be managed by Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, acting as sales agents. Proceeds are intended to finance the company's proposed acquisition of Iridium Communications Inc.
Key Details
- Offering Program: The company may offer and sell common stock with an aggregate value of up to $1,944,369,826 through an at-the-market program.
- Use of Proceeds: Net proceeds are primarily intended to fund the pending acquisition of Iridium Communications Inc., as well as related fees and expenses. Excess proceeds are allocated for future growth and general corporate purposes.
- Structure & Agents: The agreement allows for sales through agents (Deutsche Bank Securities, Wells Fargo Securities) or via forward sale agreements with affiliated entities (Deutsche Bank AG, London Branch and Wells Fargo Bank, National Association).
- Sales Commission: The sales agents will be entitled to a commission not to exceed 2.00% of the gross sales price per share sold.