Rocket Lab Merger with Vector Acquisition Corporation Is Officially Complete6th Sep 2021
On 25August 25, the Rocket Lab merger with Vector Acquisition Corporation became officially complete. As of now, the leading New Zealand launch provider is a publicly-traded company listed on Nasdaq.
Rocket Lab Merger Worth & Details
Rocket Lab merger worth value reached $777 million in Vector Acquisition Corporation and PIPE financing. The transaction should help accelerate Rocket Lab’s growth and bring additional funds to the development of its latest Neutron rocket with an 8-ton payload capacity. Besides, the deal will support further organic and non-organic growth of the company helping it to deliver further space data and initiatives. Vector’s final Rocket Lab merger approval was announced on 20th August, with plans to go public on 25th August. Both companies proceeded with their plans, taking the launch provider public as planned.
Official Comment on Completing the Merger
According to Rocket Lab founder and CEO Peter Beck, the entire team is excited about going public. He stresses that the Rocket Lab team is motivated by the impact the company already has made on Earth and is dedicated to exploring incredible space opportunities even further. Mr. Beck adds that the company’s Electron and Photon rockets have already simplified space, making it more accessible. Now, the company is focusing on a new chapter – the Neutron rocket. Peter Beck wraps up on a positive note, stating that space is now officially open for business.
Alex Slusky, founder, CEO, and Chief Investment Officer at Vector Capital, is equally excited about the Rocket Lab merger, adding that the company is democratising access to space and is now perfectly positioned to explore more opportunities.