$RKLB: Rocket Lab’s Iridium merger just became more concrete. They just filed a amended S-4/A.
It also confirms that Rocket Lab would acquire Iridium through a combination of:
Cash: $27 cash per Iridium share
+Collar terms:
•0.4000 RKLB shares if RKLB’s reference price is ≤ $67.50
•$27 divided by the reference price between $67.50 and $112.50
•0.2400 RKLB shares if the reference price is ≥ $112.50
The reference price is a 10-day volume-weighted average before closing.
At today's price, Rocket Lab holders would retain roughly 95% of voting power, while Iridium holders would receive about 5%.
It also details the $3.6B bridge loan at an assumed 8% interest.