Beck will continue to lead the combined company. “We are confident in Rocket Lab’s ability to deliver outstanding performance and reliability to drive long-term value for shareholders.” “As a leader in democratizing access to space, Rocket Lab is well positioned to capitalize on exciting opportunities in commercial and government-sponsored space industry innovation,” said Alex Slusky, CEO of Vector and Founder & Chief Investment Officer of Vector Capital. I am thrilled to declare space open for business.” Today, we take the next step toward unlocking the full potential of space, paving the way for our larger Neutron launch vehicle which will deploy the constellations of the future, and supporting our potential future expansion into space applications. “With our Electron rocket and Photon spacecraft, we’ve simplified space, making it easy and affordable for companies, scientists, governments, and entrepreneurs alike to get their ideas to orbit. We are excited to be making that a reality by embarking on our next chapter as a public company,” said Rocket Lab founder and Chief Executive Officer, Peter Beck. “Our team is motivated by the enormous impact we can have on Earth by making it easier to get to space and to do incredible things there. The proceeds are expected to accelerate organic and inorganic growth in Rocket Lab's space systems business, drive the development of the Company’s reusable 8-ton payload class Neutron rocket, and support potential future expansion into space applications enabling Rocket Lab to deliver data and services from space. The gross amount of cash that Rocket Lab will receive from Vector’s trust account and PIPE financing that closed substantially concurrently with the merger, before transaction expenses, equals approximately $777 million. name and will commence trading on the Nasdaq Capital Market on August 25, 2021, with its common stock and warrants trading under the new ticker symbols, “RKLB” and “RKLBW”, respectively. The combined company will retain the Rocket Lab USA, Inc. Vector’s shareholders approved the merger at an annual general meeting of Vector’s shareholders on August 20, 2021. (Nasdaq: RKLB) (“Rocket Lab” or the “Company”), a global leader in launch services and space systems, today announced that it completed its previously announced merger with Vector Acquisition Corporation (Nasdaq: VACQ) (“Vector”) to take Rocket Lab public. Transaction proceeds 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 and potential future space applications initiatives to deliver data and services from space. Gross proceeds to Rocket Lab totaled $777 million, combining funds held in Vector Acquisition Corporation's trust account and concurrent PIPE financing. Rocket Lab’s common stock to commence trading on the Nasdaq under the ticker “RKLB” on August 25, 2021.
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