Iridium announced a definitive Agreement and Plan of Merger with Rocket Lab, structuring a two-step merger in which Iridium shareholders will receive $27.00 in cash plus Rocket Lab shares based on a collar exchange ratio tied to Rocket Lab's 10-day VWAP. The transaction targets tax-free treatment if certain stock-mix conditions are met and is subject to shareholder and regulatory approvals, including HSR and FCC consent. In connection with the deal, Iridium directors holding approximately 1.6% of shares signed Support Agreements committing to vote for the merger and against alternative proposals. The merger agreement includes customary termination rights, with a $223.62 million fee payable by Iridium in specified circumstances.
Agreement 1: Iridium to Merge With Rocket Lab in Cash-and-Stock Deal; Holders Get $27 Plus Shares
- Agreement type: Agreement and Plan of Merger
- Counterparty: Rocket Lab
- Signed / Effective: Jun 28 2026 / same
- Duration / Termination: Until closing; outside date up to Dec 28 2027
- Reason: Combine satellite connectivity with launch and space systems scale
Agreement 2: Iridium Directors Sign Support Agreements Backing Rocket Lab Merger
- Agreement type: Support Agreement
- Counterparty: Rocket Lab
- Signed / Effective: Jun 28 2026 / same
- Duration / Termination: Until closing or earlier termination under specified conditions
- Reason: Secure supportive votes to facilitate merger approval
Original SEC Filing:
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