Iridium Stockholders Approve $8 Billion Acquisition by Rocket Lab

Iridium Communications stockholders approved the company's acquisition by Rocket Lab during a special meeting on Thursday. Approximately 99.6 percent of votes cast were in favor of the merger, which is valued at roughly $8 billion.

Under the terms of the deal, Iridium shareholders will receive $27 per share in cash and Rocket Lab common stock, creating a notional value of $54 per share. Rocket Lab recently completed a $1.94 billion at-the-market equity offering to fund the cash portion of the purchase.

The transaction merges Rocket Lab's launch and spacecraft services with Iridium's L-band spectrum and low Earth orbit satellite network. Iridium CEO Matt Desch called the vote an "important milestone toward bringing together two companies with complementary capabilities."

The merger is expected to close by mid-2027, pending customary closing conditions and remaining regulatory approvals.