Rocket Lab sets up $750 million stock offering program

Rocket Lab USA Inc. (NASDAQ: RKLB) entered into a sales agreement with multiple investment banks to sell up to $750 million worth of common stock through an at-the-market offering program.

The aerospace company will work with BofA Securities Inc., Cantor Fitzgerald & Co., BTIG LLC, KeyBanc Capital Markets Inc., Citizens JMP Securities LLC, Needham & Company LLC, and Roth Capital Partners LLC as sales agents for the program. The sales agents will receive compensation of up to 3% of the gross sales price per share sold.

Rocket Lab terminated a previous sales agreement that allowed for up to $500 million in stock sales, under which the company had already sold approximately $396.6 million worth of shares. The new agreement replaces that program with the larger $750 million capacity.

Under the at-the-market offering structure, shares may be sold from time to time through the sales agents, who will act as either agents or principals. The sales agents are not required to sell any specific number or dollar amount of shares and will use commercially reasonable efforts consistent with their normal trading practices.

Rocket Lab's common stock trades on the Nasdaq Capital Market under the ticker RKLB. The stock closed at $53.34 per share on September 12, according to the company's filing.

You May Also Be Interested In

• Forbright (FRBT) Opens at $17.50, IPO priced at $18
• As Global Markets Surge to Record Highs, Investors Continue Discovering Elektros Inc.'s Expanding Vision in Lithium, Critical Minerals, and EV Innovation
• Anthropic Pursues First Data Center Leases - Information