Rocket Lab unveils bigger rocket and plans to go public via SPAC
Small launch firm Rocket Lab announced plans on Monday to go public through a merger with a special purpose acquisition company, or SPAC, marking the latest deal in an industry where SPAC mergers are becoming increasingly common. The firm also unveiled a new rocket called Neutron that its chief executive said will be capable of launching humans.
The SPAC deal values Long Beach, California-based Rocket Lab at $4.1 billion and is expected to close in the second quarter of 2021. Once the merger is done, Vector Acquisition Corporation, the SPAC Rocket Lab is merging with, will change its name to Rocket Lab USA, Inc, and the Nasdaq ticker symbol will be RKLB.
“This milestone accelerates Rocket Lab’s ability to unlock the full potential of…