Rocket Lab USA, Inc. (NASDAQ: RKLb), a global leader in launch services and space systems, has announced an "at the market" (ATM) equity offering program. The company intends to offer and sell shares of its common stock with an aggregate offering price of up to $500.0 million through this program. The net proceeds from the sales of common stock will be utilized 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 equity distribution agreement for this offering is with BofA Securities, Inc., Cantor Fitzgerald & Co., Stifel, Nicolaus & Company, Incorporated, and TD Securities (USA) LLC, as sales agent and/or principal. The shares will be offered through various methods permitted by law, including in sales deemed to be "at the market offerings" as defined in rule 415 of the Securities Act of 1933, in ordinary brokers’ transactions, to or through a market maker, on or through the NASDAQ Capital Market or any other market venue where the securities may be traded, in the over-the-counter market, in privately negotiated transactions, or through a combination of any such methods of sale.
Rocket Lab was founded in 2006 and is an end-to-end space company with a track record of mission success. 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'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. Rocket Lab 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. The market has reacted to these announcements by moving the company's shares 3.3% to a price of $18.42. Check out the company's full 8-K submission here.
