McLean, Va. – September 24, 2026 -- Iridium Communications Inc. (Nasdaq: IRDM) stockholders have formally approved the company's acquisition by Rocket Lab Corporation (Nasdaq: RKLB), clearing a critical hurdle for a deal valued at $54.00 per share on a notional basis.
Shareholders back the deal with overwhelming margin
At a special meeting, approximately 99.6% of votes cast supported the merger agreement, representing roughly 81.0% of Iridium's total outstanding common stock entitled to vote. Full voting results will be disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission.
Deal terms combine cash and stock in collared exchange
Under the agreement, Iridium stockholders will receive $27.00 in cash plus Rocket Lab shares calculated under an exchange ratio subject to a collar, for each share of Iridium common stock held at closing. The combined consideration carries a notional value of $54.00 per Iridium share.
Merger pairs satellite network operator with launch provider
Iridium operates the only truly global mobile satellite network, supporting voice, data, positioning, navigation and timing, and aircraft surveillance services through its Aireon system. Rocket Lab provides launch services via its Electron and HASTE rockets, with its Neutron vehicle in development for medium-class missions, and has supported more than 1,700 spacecraft and satellite component missions.
Iridium CEO Matt Desch called the vote "an important milestone toward bringing together two companies with complementary capabilities." Rocket Lab Founder and CEO Sir Peter Beck said the transaction combines Iridium's trusted global network and spectrum with Rocket Lab's launch and space systems capabilities.
Closing targeted for mid-2027 pending regulatory clearance
The transaction remains subject to remaining regulatory approvals and other customary closing conditions, with completion expected by mid-2027. The deal's structure and risk factors were detailed in a definitive proxy statement/final prospectus filed with the SEC on August 26, 2026.