Monday, August 23, 2021

Rocket Lab Expecting To Be Public By Wednesday

Long beach-based Rocket Lab is expecting to be a public company by Wednesday, thanks to a special purpose acquisition company (SPAC) merger with Vector Acquisition Corporation, the two said this morning. According to the two, Rocket Lab will be renamed Rocket Lab USA, Inc., and will commence trading on the Nasdaq as RKLB and RKLBW on August 25th. The deal is the latest in high flying technology companies in the area--particularly those in the electric vehicle and aerospace industry--going public via SPAC. Rocket Lab and Vector Acquisition Corporation said they expect gross proceeds of $777M to the company from the deal.