Rocket Labs Raised $777 Million With SPAC

Rocket Labs made its debut on the Nasdaq exchange Aug. 25 after completing its SPAC merger with Vector Acquisition Corp. The stock, trading under the ticker symbol RKLB, is down to about $10.0 per share at the end of its second day of trading.

Rocket Labs raised $777 million which will be used to develop the Neutron medium lift rocket.

There are several planned Electron launches. There will be hree consecutive launches for geospatial intelligence company BlackSky starting late this month. Electron will launch NASA’s CAPSTONE lunar cubesat mission as soon as late October.

Later this year its next attempt to recover the first stage of the Electron as part of its effort to make the stage reusable. If that is successful, the company will attempt to catch the stage of a later launch in mid-air and then reuse that stage.

Rocket Labs has had several successful orbital launches and views SpaceX as their only competition.

SOURCES= Space News, Rocket Labs
Written by Brian Wang,

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