Shareholders Back Merger
Shareholders of Iridium Communications Inc. have voted through the merger agreement announced earlier, clearing the way for Rocket Lab Corporation to take over the company. During a special meeting on September 24, 2026, roughly 99.6% of ballots cast backed the deal, equal to about 81.0% of Iridium's outstanding common shares eligible to vote. Iridium will disclose the full tally in a Current Report on Form 8-K submitted to the U.S. Securities and Exchange Commission.[S1]
Matt Desch, Iridium's CEO, said the stockholder vote represents a significant step toward uniting two businesses whose strengths fit together, that share a dedication to innovation, and that bring extensive know-how in supporting essential missions. Sir Peter Beck, Rocket Lab's Founder and CEO, framed the result as a step toward building a next generation space powerhouse, pointing to Iridium's dependable worldwide network, spectrum holdings, and many years of operational experience alongside Rocket Lab's launch and space systems expertise.[S1]
Deal Terms and Timeline
Under the transaction terms, each Iridium share outstanding at closing will be exchanged for $27.00 in cash and a number of Rocket Lab common shares calculated pursuant to an exchange ratio, subject to a collar. The notional value is $54.00 per Iridium share. The deal is expected to be completed by mid-2027, subject to remaining required regulatory approvals and other customary closing conditions.[S1]
Iridium runs the sole mobile satellite network that genuinely spans the globe, delivering voice, data, messaging, positioning, navigation, and timing (PNT), plus aircraft surveillance offerings. Among its integrated services is Aireon, a surveillance system for air traffic that operates from space. The company's headquarters are in McLean, Virginia, and it collaborates with over 500 technology and distribution partners to reach millions of customers around the world.[S1]
Rocket Lab supplies launch services, spacecraft, payloads, and satellite components to commercial, government, and national security customers. Its Electron rocket holds the title of the most often launched orbital small rocket globally, while its HASTE rocket delivers hypersonic test launch services for the U.S. government and allied countries. The Neutron vehicle now in development is meant to open up medium launch for constellation deployment, national security, and exploration work. Rocket Lab's spacecraft and components have flown on over 1,700 missions, among them GPS, constellations, and exploration efforts to the Moon, Mars, and Venus.[S1]
