Hello, Guest!
  • Friday, November 22, 2024

Vector Acquisition Shareholders OK Rocket Lab Merger; Peter Beck Quoted

Shareholders at a Vector Capital-backed blank check company approved Friday the proposed combination with Rocket Lab USA and both parties expect the merger to close Wednesday, Aug. 25.

Holders of less than 3 percent of Class A ordinary shares at Vector Acquisition (Nasdaq: VACQ) have moved to redeem their shares with regard to the transaction, the companies said in a joint statement Friday.

The combined company will operate as Rocket Lab USA and is expected to receive approximately $777 million in gross proceeds from Vector’s trust account and concurrent private investment in public equity financing upon the deal’s closing.

“This significant milestone accelerates our ability to unlock the full potential of space through our launch and spacecraft platforms,” said Peter Beck, founder and CEO of Rocket Lab.

Rocket Lab is set to list its common stock and warrants on Nasdaq using the ticker symbols “RKLB” and “RKLBW,” respectively, Wednesday.

Rocket Lab, a Long Beach, California-based launch and space systems provider, struck a merger deal with the special purpose acquisition company in March as part of efforts to go public.

Video of the Day

Related Articles

Vector Capital Closes Riverbed Purchase, Appoints Dave Donatelli as IT Company’s CEO Executive Moves

Vector Capital Closes Riverbed Purchase, Appoints Dave Donatelli as IT Company’s CEO

Private equity firm Vector Capital has completed its purchase of Riverbed Technology for an undisclosed sum and named tech industry veteran Dave Donatelli as CEO of the acquired information technology company. Dan Smoot, most recently CEO of Riverbed, will continue to support the company during the transition period, Riverbed said Tuesday. Donatelli previously served as

Vector Capital-Backed MarkLogic Buys Semantic Tech Maker Smartlogic M&A Activity

Vector Capital-Backed MarkLogic Buys Semantic Tech Maker Smartlogic

MarkLogic, a data integration and management company backed by private equity firm Vector Capital, has purchased semantic platform vendor Smartlogic in a move to offer integrated tools that could help public and private sector customers gain insight from datasets. San Jose, California-based Smartlogic has worked with clients at government, energy, health care, life sciences, media,

Rocket Lab Makes Public Market Debut After Vector SPAC Merger; Peter Beck Quoted M&A Activity

Rocket Lab Makes Public Market Debut After Vector SPAC Merger; Peter Beck Quoted

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