Wednesday, August 25, 2021

Rocket Lab Hits The Nasdaq

Long Beach-based Rocket Lab is the region's newest, public company, after completing a deal with a special purpose acquisition company (SPAC) this morning. The company--which rang the Nasdaq opening bell this morning--merged with Vector Acquisition Corp., which had been trading as VACQ on the Nasdaq. The company is now trading this morning as RKLB and RKLBW. The new, combined company has been renamed Rocket Lab USA, Inc. According to Rocket Lab, it will receive approximately $777M in proceeds from the transaction, which it says it expects to accelerate organic and inorganic growth in its space systems business. Rocket Lab's founder and Chief Executive Officer is Peter Beck.