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Wajeeh Khan

A $2 Billion Reason Why Rocket Lab Stock Is in Focus Today

Rocket Lab RKLB Iridium Communications

Rocket Lab (RKLB) shares are in focus on Aug. 13 after the company disclosed a replacement dollar-for-dollar $1.94 billion at-the-market (ATM) equity distribution program. The agreement is designed to fund its pending acquisition of Iridium Communications and reduce debt. In its filing, RKLB also confirmed that the Hart-Scott-Rodino waiting period for the deal has expired.

Rocket Lab stock remains down about 45% versus its year-to-date high.

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