The Rocket Lab Iridium acquisition won shareholder approval, clearing a required owner vote while regulatory reviews and other closing conditions remain outstanding. Iridium Communications (NASDAQ: IRDM) is being acquired by Rocket Lab (NASDAQ: RKLB).
Approximately 99.6% of votes cast supported the merger, representing about 81% of Iridium’s shares eligible to vote. The companies continue to target completion by mid-2027.
Rocket Lab Iridium Acquisition Wins Strong Shareholder Support
The vote adopted the previously announced merger agreement, according to Iridium’s official results announcement. Complete voting figures are due in a Form 8-K filing with the SEC.
Under the agreement, each Iridium share will receive $27 in cash plus a number of Rocket Lab shares determined through an exchange ratio with a price collar. The companies described the package as having a notional value of $54 per Iridium share when the transaction was announced.
Because part of the payment is stock-based and subject to a collar, the value ultimately received can differ from that notional figure as Rocket Lab’s share price moves. The cash portion remains fixed under the stated terms.
Regulatory Clearance Is the Next Merger Test
The combination would bring Iridium’s global low-Earth-orbit communications network and spectrum together with Rocket Lab’s launch, spacecraft and space-systems businesses. The strategic case depends on integrating those capabilities and converting them into commercial and government contracts after closing.
Shareholder approval removes one major condition but does not complete the acquisition. The companies still need the remaining regulatory approvals and must satisfy customary closing requirements.
The long interval to the expected mid-2027 completion leaves the transaction exposed to operational changes, regulatory timing and movements in the stock component of the consideration. Iridium will continue operating independently until the merger becomes effective.
That independence also means the companies’ revenue, costs and guidance remain separate before closing. The shareholder vote authorizes the agreement but does not create combined financial results.
The SEC vote filing should confirm the final count. Subsequent regulatory disclosures and an announced closing date will determine whether the transaction remains on its current timetable.
