Iridium shareholders approve Rocket Lab acquisition

Iridium ($IRDM) shareholders approved the proposed acquisition by Rocket Lab ($RKLB), clearing a major step toward combining the satellite communications operator with the space-systems company. Approximately 99.6% of votes cast supported the transaction, representing around 81% of Iridium’s outstanding shares. The vote advances an already agreed transaction rather than announcing a separate acquisition.

The consideration combines $27 in cash with Rocket Lab shares under a collar-based exchange mechanism, producing a stated notional value of $54 per Iridium share. The stock element means investors should distinguish the deal’s reference value from an unconditional cash payment. Completion is expected in mid-2027 and still requires regulatory approvals and other closing conditions. Shareholder approval alone does not transfer ownership or complete the integration.

Sources:

• Rocket Lab / Iridium — shareholder vote, GlobeNewswire release