Rocket Lab Announces Redemption of All Outstanding Warrants

LONG BEACH, Calif., December 22, 2021 (Rocket Lab PR) – Rocket Lab USA, Inc. (Nasdaq:  RKLB) (the “Company” or “Rocket Lab”) today announced that it will redeem all of its outstanding public warrants (the “Public Warrants”) to purchase shares of the Company’s common stock that were issued under the Warrant Agreement, dated as of September 24, 2020, by and among Rocket Lab USA, Inc. (f/k/a Vector Acquisition Corporation) and Continental Stock Transfer & Trust Company (“Continental”), as original warrant agent, as amended by and assigned to and assumed by the Company, pursuant to that certain Amendment to Warrant Agreement, dated August 25, 2021, by and among Rocket Lab USA, Inc. (f/k/a Vector Acquisition Corporation), Continental, and American Stock Transfer & Trust Company, LLC (“AST”), as successor warrant agent (as so amended, the “Warrant Agreement”), as part of the units sold in the Company’s initial public offering (the “IPO”) and that remain outstanding at 5:00 p.m. New York City time on January 21, 2022 (the “Redemption Date”) for a redemption price of $0.10 per Public Warrant.  In addition, the Company will redeem all of its outstanding warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the IPO (the “Private Placement Warrants” and, together with the Public Warrants, the “Warrants”) on the same terms as the outstanding Public Warrants.

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Rocket Lab Announces Third Quarter 2021 Financial Results, Issues Guidance for Fourth Quarter

Electron launches with OHB satellite. (Credit: Rocket Lab webcast)

Q3 2021 Financial Results Highlights

  • Revenue above high end of prior guidance range at $5.3 million
  • Backlog increased from $141 million at June 30, 2021 to $183 million as of September 30, 2021, and currently stands at $237 million as of November 15, 2021
  • Space Systems revenue in the third quarter 2021 grew 360% over the same quarterly period in 2020 to represent 27% of total revenue for the nine months ended September 30, 2021
  • Successfully completed the merger with Vector Acquisition Corporation resulting in ending cash balance at September 30, 2021 of $792.7 million

Q4 2021 Guidance

  • Revenue to range between $23 million to $25 million
  • GAAP and non-GAAP gross margins of 13 percent and 27 percent, respectively
  • GAAP and non-GAAP operating expenses between $24 million to $26 million, and $19 million to $21 million, respectively
  • GAAP Net Loss between $24 million and $26 million, and Adjusted EBITDA loss of $9 million to $11 million, which reflects adjustments for stock-based compensation, 3rd party fees associated with M&A activity, depreciation and amortization, FX gains and losses, interest expense, taxes and other recurring and non-recurring items
  • All of the above exclude any warrant expense impacts from the public and private warrants assumed from the Vector Acquisition Corporation merger that closed on August 25, 2021, and also excludes any impacts from the Advance Solutions Inc. acquisition and related purchase price accounting, and excludes any financial contributions and accounting impacts from the pending Planetary Systems Corporation acquisition announced today

LONG BEACH, Calif. (Rocket Lab PR) — Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced financial results for its fiscal third quarter ended September 30, 2021.

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Rocket Lab Provides First Half 2021 Financial Results

Electron launches with OHB satellite. (Credit: Rocket Lab webcast)
  • Revenue of $29.5M, representing 237% Year-on-Year revenue growth, accompanied by an expansion in gross margins from negative 67% to a positive 13%.
  • Increasing diversity in revenue, with Space Systems contributing 18% of total revenue in the period, compared to 3% in the prior year, accompanied with gross margins of 65%.
  • Backlog grew 136% Year-on-Year to $141.4 million as of June 30, 2021 as compared to backlog of $59.9 million as of June 30, 2020.

LONG BEACH, Calif., September 08, 2021 (Rocket Lab PR) — Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today reviewed financial results for the six months ended June 30, 2021, which were previously released in its 8-K filed with the U.S. Securities and Exchange Commission on August 31, 2021.

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Vector Acquisition Corporation Shareholders Approve Plan for Rocket Lab to Go Public

Electron lifts off with Capella Space synthetic aperture radar satellite on Aug. 31, 2020. (Credit: Rocket Lab webcast)
  • Transaction to Close on August 25, 2021
  • Combined Company to be Renamed “Rocket Lab USA, Inc.”
  • Common Stock and Warrants to Commence Trading on Nasdaq as “RKLB” and “RKLBW”, on August 25, 2021
  • Gross proceeds to Rocket Lab of $777 million expected, combining funds held in Vector’s trust account and concurrent PIPE financing

LONG BEACH, Calif. (Vector Acquisition Corp. PR) — Vector Acquisition Corporation (Nasdaq: VACQ) (“Vector”), a publicly traded special purpose acquisition company backed by leading technology investor Vector Capital, today announced that Vector’s shareholders voted to approve its proposed merger with Rocket Lab USA, Inc. (“Rocket Lab” or the “Company”), a global leader in launch and space systems, at its annual general meeting of shareholders held on August 20, 2021. Vector also announced that holders of less than 3% of its Class A ordinary shares have properly exercised their right to redeem their shares in connection with the proposed merger. As a result, the gross amount of cash that that the combined company will receive from Vector’s trust account and concurrent PIPE financing upon the closing of these transactions, before transaction expenses, will equal approximately $777 million.

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Rocket Lab, Vector Acquisition Set Date for Vote on Merging, Going Public

Electron launches with OHB satellite. (Credit: Rocket Lab webcast)

LONG BEACH, Calif. (Vector Acquisition Corp. PR) — Vector Acquisition Corporation (Nasdaq: VACQ) (“Vector”), a publicly traded special purpose acquisition company backed by leading technology investor Vector Capital, today announced that its Annual Meeting of the Company’s shareholders (“Annual Meeting”) to consider the previously announced business combination (“Business Combination”) with Rocket Lab USA, Inc. (“Rocket Lab”), a global leader in launch and space systems, has been set for August 20, 2021. Shareholders of record as of the close of business on June 30, 2021 (“Record Date”) are eligible to vote at the Annual Meeting.

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Rocket Lab Progresses Flight Review, Recovers First Stage Following Successful Ocean Splashdown

Electron first stage aboard recovery ship. (Credit: Rocket Lab)

LONG BEACH, Calif. May 17, 2021 (Rocket Lab PR) — On May 15, 2021, Rocket Lab experienced an anomaly almost three minutes into the company’s 20th Electron launch. Following a successful lift-off from Launch Complex 1, Electron proceeded through a nominal first stage engine burn, stage separation, and stage 2 ignition. Shortly after the second stage ignition the engine shut down, resulting in the loss of the mission.

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SPACovirus Sweeps Space Sector

Richard Branson celebrates the first Virgin Galactic trade on the New York Stock Exchange. (Credit Virgin Galactic)
Wall Street’s latest easy money craze has attracted a growing number of space companies. But, just because they can go public, should they?

by Douglas Messier
Managing Editor

Seven space companies have gotten caught up in the SPACovirus sweeping through Wall Street. The impact on the space industry is going to be interesting to watch.

A SPAC is a special purpose acquisition company. It’s a publicly traded investment firm that, with outside investors, acquires or merges with another company, and then takes the acquisition public under its own name.

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Rocket Lab Goes SPAC: Company to Go Public in Merger with Vector Acquisition Corp.

Transaction will provide capital to fund development of reusable Neutron launch vehicle with an 8-ton payload lift capacity tailored for mega constellations, deep space missions and human spaceflight

Proceeds also expected to fund organic and inorganic growth in the space systems market and support expansion into space applications enabling Rocket Lab to deliver data and services from space

Business combination values Rocket Lab at an implied pro forma enterprise value of $4.1 billion. Pro forma cash balance of the combined company of approximately $750 million at close

End-to-end space company with an established track record, uniquely positioned to extend its lead across a launch, space systems and space applications market forecast to grow to $1.4 trillion by 2030

Transaction is expected to close in Q2 2021, upon which Rocket Lab will be publicly listed on the Nasdaq under the ticker RKLB

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