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Rocket Lab goes public with a value of $4.1b through (you guessed it) an SPAC mergerINTL

Rocket Lab goes public with a value of $4.1b through (you guessed it) an SPAC merger

It’s 3, 2, 1… liftoff! time for Rocket Lab USA, who is about to go public via a merger deal with special-purpose acquisition company Vector Acquisition (VACQ). The IPO will value the small-satellite launch firm at a rather large $4.1b.

Rocket Lab is a well-known space transportation startup that has already launched nearly 100 satellites for the government and private companies. VACQ itself went public last September, raising $300m.

The deal’s proceeds will reportedly be used for some cool-sounding projects, such as the development of a Neutron rocket vehicle meant for satellite mega-constellations, space missions, and commercial spaceflight, according to a WSJ report.

why it matters
Since major space transportation companies like Elon Musk’s SpaceX are more focused on launching big satellites, the market for small-rocket ventures is becoming more competitive. Just recently, we reported that California-based Astra Space was also going public via an SPAC merger, so this trend is likely to continue growing.