Rocket Lab surges, adding $8 billion after Iridium deal shifts RKLB cash flow
Rocket Lab Corporation traded at $98.01 in the premarket session Tuesday, up $13.43 from Monday’s close. That quote put the company’s value at $59.3 billion, so the premarket gain added about $8.1 billion in equity value. Nasdaq runs premarket hours from 4:00 a.m. to 9:30 a.m. ET. Here’s the straightforward math for investors. Rocket Lab gave itself a bit more than the $8.0 billion enterprise value it put on Iridium. The company is using its own shares as funding, too: Iridium shareholders get $27 in a mix of cash and Rocket Lab stock, with the stock portion tied to a $67.50-$112.50 collar. Rocket Lab was quoted premarket within that range.