Rocket Lab Corp. (NASDAQ:RKLB) shares are trending in after-hours trading Monday as investors continued reacting positively to the company’s planned acquisition of Iridium Communications Inc..
RKLB closed Tuesday’s regular session at $98.01, up 15.93%. In after-hours trading, shares climbed to $101.18, up 3.23%.
Rocket Lab is a space systems and launch services company focused on launch vehicles, spacecraft manufacturing and space applications.
Iridium Deal In Focus
Rocket Lab announced Monday that it entered into a definitive agreement to acquire Iridium in a cash-and-stock transaction valued at approximately $8 billion in enterprise value.
The acquisition is expected to strengthen Rocket Lab’s position in satellite communications by combining its launch and manufacturing capabilities with Iridium Communications Inc. (NASDAQ:IRDM)’s global communications network and spectrum assets.
CEO Peter Beck previously described the transaction as a defining moment for the space industry, with the combined company expected to accelerate next-generation space applications and expand recurring communications revenue.
The deal is also expected to improve Rocket Lab’s vertical integration by adding communications, IoT and defense-related services to its existing space infrastructure business.
Trading Metrics
Rocket Lab has a market capitalization of approximately $56.7 billion.
The stock has traded between a 52-week high of $151 and a 52-week low of $33.73.
Over the past 12 months, RKLB shares have gained approximately 174%.
Benzinga Edge Stock Rankings indicate negative short- and medium-term price trends, while the long-term trend remains positive.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Piotr Swat via Shutterstock
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