Rocket Lab USA started trading Wednesday on Nasdaq under the ticker symbol “RKLB” after completing its merger with blank check company Vector Acquisition that was first announced in March.
The transaction’s completion came days after shareholders at the Vector Capital-backed special purpose acquisition company approved the business combination with Rocket Lab, the companies said in a joint statement Wednesday.
Long Beach, California-based Rocket Lab also listed its warrants on the stock exchange under the symbol “RKLBW” and will use approximately $777 million in gross proceeds it expects to receive to advance the development of its reusable Neutron rocket, support future space application expansion efforts and pursue organic and inorganic growth initiatives in its space systems business.
“Today, we take the next step toward unlocking the full potential of space, paving the way for our larger Neutron launch vehicle which will deploy the constellations of the future, and supporting our potential future expansion into space applications,” he added.
Beck will continue to oversee the combined entity. Alex Slusky, CEO of Vector Acquisition and founder and chief investment officer of Vector Capital, will join Rocket Lab’s board of directors that includes David Cowan of Bessemer Venture Partners, Sven Strohband of Khosla Ventures, Matt Ocko of DCVC, Jon Olsen, Merline Saintil and Mike Griffin.
Rocket Lab said it expects its debut on the public market to strengthen its position as a provider of end-to-end space services spanning spacecraft production, on-orbit space management and launch services. The company has launched 105 satellites to orbit and has supported government agencies including NASA, National Reconnaissance Office and the Defense Advanced Research Projects Agency.
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