Author: Brenda Marie Rivers|| Date Published: March 1, 2021
Small satellite launch services provider Rocket Lab is close to finalizing an estimated $4.1 billion agreement with a Vector Capital-backed special purpose acquisition company to merge operations, The Wall Street Journal reported Sunday.
Rocket Lab would go public if the company combines with Vector Acquisition (Nasdaq: VACQ), which the former expects to support its production of the Neutron rocket designed for commercial spaceflight and satellite delivery.
WSJ noted the transaction could include $470 million in private investment in public equity funds from investors such as Neuberger Berman Group and BlackRock.
Lockheed Martin (NYSE: LMT) is among the key defense industry players that have backed Rocket Lab, which has deployed approximately 97 satellites for private and government missions to date.
In January, Rocket Lab launched its latest mission called “Another One Leaves the Crust” for OHB Group.
Vector Acquisition’s initial public offering in September raised $300 million, according to the report.
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