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Merger communication
✓ VerifiedIridium's investor note puts the Rocket Lab deal at a notional $54.00 per share, roughly $8.0 billion in enterprise value, paid as $27.00 in cash plus stock under a collar.
Filed Jun 29, 2026 · 17:10 ET
Summary
- The courtesy note went to investors and analysts on June 29, 2026.
- Consideration is $27.00 in cash plus Rocket Lab shares under an exchange ratio computed from the 10-day volume weighted average price ending two trading days before closing.
- The ratio is $27.00 divided by the Rocket Lab price between $67.50 and $112.50, fixed at 0.4 at or below $67.50 and 0.24 at or above $112.50.
- The transaction combines Rocket Lab's launch and satellite manufacturing with Iridium's network, spectrum, and a partner ecosystem of more than 500.
Key facts
- Notional value
- $54.00 per share
From the filing for Notional value
“The transaction has a notional value of $54.00 per share of Iridium common stock”
- Enterprise value
- approximately $8.0 billion
From the filing for Enterprise value
“implying an enterprise value for Iridium of approximately $8.0 billion”
- Collar bounds
- 0.4 to 0.24
From the filing for Collar bounds
“If this stock price is equal to or less than $67.50, then the exchange ratio will be 0.4”
Why it mattersThis is the company's own arithmetic for what shareholders receive, stated more plainly than the legal agreement.
- Filed
- Jun 29, 2026
- Accepted
- 2026-06-29 21:10Z
- Accession no.
- 0001104659-26-078928
- Size
- 29 KB
- Index
- Filing index