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Rocket Lab Completes Merger with Vector Acquisition Corporation to Become Publicly Traded End-to-End Space Company | Rocket Lab

rocket lab common stock will begin trading on the nasdaq under the symbol “rklb” on August 25, 2021.

gross profits from the rocket lab totaled $777 million, combining funds held in the vector acquisition corporation trust account and concurrent pipeline financing.

Reading: Rocket lab spac merger

Proceeds from the transaction are expected to accelerate growth in the space systems market, fund the development of the new reusable 8-ton payload-class neutron rocket, and support further organic and inorganic growth in the space systems ecosystem. space systems and potential future space application initiatives to deliver data and services from space.

long beach, california. August 25, 2021.rocket lab usa, inc. (nasdaq: rklb) (“rocket lab” or the “company”), a global leader in space systems and launch services, announced today that it has completed its previously announced merger with vector acquisition corporation (nasdaq: vacq) (“vector”) to make the rocket lab public. Vector shareholders approved the merger at Vector’s annual general meeting of shareholders on August 20, 2021. The combined company will retain Rocket Lab USA, Inc. and will begin trading on the nasdaq capital market on August 25, 2021, with its common shares and warrants trading under the new ticker symbols, “rklb” and “rklbw”, respectively.

The gross amount of cash Rocket Lab will receive from Vector’s trust account and pipeline financing that closed substantially at the same time as the merger, before transaction expenses, equates to approximately $777 million. Proceeds are expected to accelerate organic and inorganic growth in rocket lab’s space systems business, drive development of the company’s 8-tonne reusable payload-class neutron rocket, and support potential future expansion into space applications that enable rocket lab to deliver data and services from space. .

“Our team is motivated by the huge impact we can have on earth by making it easier to get to space and do amazing things there. We are excited to make it happen as we embark on our next chapter as a public company,” said Rocket Lab Founder and CEO Peter Beck. “With our electron rocket and photon spacecraft, we’ve simplified space, making it easy and affordable for businesses, scientists, governments and entrepreneurs to launch their ideas into orbit. today, we take the next step in unlocking the full potential of space, paving the way for our largest neutron launch vehicle that will deploy the constellations of the future and supporting our potential future expansion in space applications. I am delighted to declare the space open for business.”

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“As a leader in democratizing access to space, Rocket Lab is well positioned to capitalize on exciting opportunities in government-sponsored and commercial space industry innovation,” said Alex Slusky, CEO of Vector and Founder & vector capital investment manager. “We are confident in Rocket Lab’s ability to deliver outstanding performance and reliability to create long-term value for shareholders.”

mr. Beck will continue to lead the combined company. Mr. Slusky will join the combined company’s Board of Directors along with existing directors Sven Strohband of Khosla Ventures, David Cowan of Bessemer Venture Partners, Matt Octo of DCVC, Mike Griffin, Merline Saintil and Jon A. olsen.

As a public company, rocket lab’s position as a leader in comprehensive space services spanning launch, spacecraft manufacturing and in-orbit spacecraft management is further strengthened. Since Rocket Lab’s first orbital launch in 2018, the company’s innovative Electron Launch Vehicle has become the second most frequent US launch. uu. rocket annually. To date, Rocket Lab has launched 105 satellites into orbit for more than 20 technology-leading public and private sector organizations and constellation operators. Rocket Lab’s customer base is evenly split between government and commercial organizations, including the National Aeronautics and Space Administration (NASA), the National Reconnaissance Office (NRO), and the Defense Advanced Research Projects Agency (DARPA). , as well as leaders in commercial satellites.

rocket lab has an established space systems business developing satellite and spacecraft solutions for a variety of commercial and government missions, from low earth orbit constellations to highly complex deep space and interplanetary missions. Rocket Lab’s family of photon spacecraft offers a satellite-as-a-service solution that eliminates the typical high cost, time, and complexity that customers face when building their own satellites. With Rocket Lab, customers can purchase a launch, satellite, ground services and in-orbit management as a turnkey package, resulting in a disruptive reduction in cost and time to orbit. The Rocket Laboratory has two operational Photon orbiters, with additional missions planned to the Moon, Mars, and Venus, including the final mission to lunar orbit in support of NASA’s Artemis program.

morgan stanley & co. llc is serving as the sole financial advisor to rocket lab, with goodwin procter llp serving as legal advisor to the company. Morgan Stanley & co. LLC also acts as Vector On The Pipe’s lead placement agent and capital markets advisor. deutsche bank securities is acting as sole financial adviser and capital markets adviser to vector, as well as placement agent in the pipeline, with kirkland & ellis llp as legal counsel. canaccord genuity, cowen and stifel also acted as capital markets advisors to vector.

To celebrate the completion of the business combination, Rocket Lab will ring the NASDAQ opening bell at 9:30 AM. m. and August 25, 2021. A live stream of the event and a replay can be accessed by visiting www.rocketlabusa. com/livestream

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About Rocket Lab USA, Inc.

rocket lab is a world leader in space, building rockets and spacecraft that make it easier to get to orbit and do amazing things there. Founded in 2006, Rocket Lab provides end-to-end mission services that provide frequent and reliable access to space for the civil, defense and commercial markets. Rocket Lab, based in Long Beach, California, designs and manufactures the Electron Launch Vehicles and the Photon Satellite Platform and is developing the Neutron Launch Vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron Launch Vehicle has become the second most frequent US launcher. rocket annually and has launched 105 satellites into orbit for public and private sector organizations, enabling operations in homeland security, scientific research, space debris mitigation, earth observation, weather monitoring, and communications. Rocket Lab has two launch sites, including a private orbital launch site located in New Zealand, and a second launch site in Virginia, USA. the moon and mars, as well as the first private commercial mission to venus. For more information, visit www.rocketlabusa.com.

on vectors

Vector Acquisition Corporation (NASDAQ: VACQ) is a blank check company run by veteran technology investor Alex Slusky. In addition to serving as CEO of Vector Acquisition Corp., Mr. slusky is the founder and chief investment officer of vector capital, a private investment firm focused on the technology sector. He has more than 25 years of experience investing in and operating public and private technology companies, as well as a deep understanding of trends, market cycles, vertical experience, and a proven ability to identify, diligence, structure, and transform technology businesses. . the company harnesses all the resources of the capital vector to transform operations and accelerate the growth of its targeted investments. for additional information, visit https://www.vectorcapital.com.

forward-looking statements

This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, section 27a of the Securities Act of 1933, as amended, and section 21e of the Securities Act of 1933, as amended. of 1934 Securities and Exchange, as amended, including statements regarding the expectations, hopes, beliefs, intentions or strategies of rocket lab or its respective management teams with respect to the future. the words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “could” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not forward-looking. These forward-looking statements are based on Rocket Lab’s current expectations and beliefs regarding future developments and involve a number of risks, uncertainties (some of which are beyond Rocket Lab’s control) or other assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) rocket lab’s future plans with respect to merger proceeds and pipeline financing, including the number of vector shareholders, if any, exercising appraisal rights in connection with the merger, (ii) factors affecting the development of the neutron launch vehicle and the rocket lab’s ability to drive growth in its business of Space Systems, and (iii) possible delays in rocket certification and NASA Laboratory Flight Termination System software, which could delay the time our second launch site becomes operational. There can be no guarantee that future developments affecting rocket lab or any merged successor entity will be as we have anticipated. Except as required by law, rocket lab undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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