Rocket Lab USA, Inc. (NASDAQ: RKL) has announced the launch of an "at the market" equity offering program, with plans to offer and sell shares of its common stock with an aggregate offering price of up to $500.0 million. The company intends to utilize the net proceeds from this offering for future growth, including potential future acquisitions such as Rocket Lab’s intent to acquire laser communications provider Mynaric, and for general corporate and working capital purposes.
The offering will be made through an equity distribution agreement by and among the company, BofA Securities, Inc., Cantor Fitzgerald & Co., Stifel, Nicolaus & Company, Incorporated, and TD Securities (USA) LLC, as sales agent and/or principal. The timing and number of shares sold will depend on various factors determined by the company.
Rocket Lab, founded in 2006, has a strong track record of mission success and offers reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions. Since its first orbital launch in January 2018, Rocket Lab’s electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 198 satellites to orbit for private and public sector organizations.
The company has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. Rocket Lab's spacecraft platforms have been selected to support NASA missions to the moon and Mars, as well as the first private commercial mission to Venus. Today the company's shares have moved 3.0% to a price of $18.37. If you want to know more, read the company's complete 8-K report here.
