RKLB Stock Alert: What to Know as Rocket Lab Inches Closer to Iridium Acquisition

Rocket Lab (RKLB) shares inched higher on Tuesday as investors responded favorably to major financing progress on the company’s pending mega-acquisition of Iridium Communications (IRDM). In its press release, RKLB said it has successfully raised $1.944 billion via an at-the-market (ATM) share offering to fund that acquisition of the satellite communications specialist.

At the time of writing, Rocket Lab stock is down more than 50% versus its year-to-date high.