Other events

Summary

• Iridium voluntarily supplemented its definitive proxy statement in response to three stockholder lawsuits and demand letters alleging disclosure deficiencies about its merger with Rocket Lab Corporation under the June 28, 2026 Merger Agreement.
• The special meeting is scheduled for September 24, 2026 at 8:30 a.m. Eastern Time, with stockholders of record as of August 21, 2026 eligible to vote, and Iridium expects to complete the Mergers in mid-2027.
• The supplemental disclosures expand Evercore's financial analyses, including a selected precedent transactions analysis using a TEV / LTM Adjusted EBITDA range of 10.0x to 14.0x applied to estimated LTM Adjusted OEBITDA of approximately $527 million.
• Evercore's discounted cash flow analysis covering fiscal years 2026 through 2035 used perpetuity growth rates of 2.5% to 3.5% and discount rates of 9.0% to 10.0%, indicating implied equity values of $29.97 to $45.54 per share.
• The Merger Consideration is valued at $54.00 per share of Iridium Common Stock, compared to closing prices of $28.52 on April 1, 2026 and $43.52 on June 26, 2026.
• Iridium states the claims are without merit and made the supplemental disclosures to moot the claims and avoid delay of the special meeting.

Why it mattersThe supplemental disclosures respond to stockholder litigation and keep the September 24, 2026 vote on Rocket Lab's acquisition of Iridium on schedule. The deal values Iridium at $54.00 per share with closing anticipated in mid-2027.