On Monday March 1, Rocket Lab announced its plans to go public through an SPAC fund called Vector Acquisition. The merger will value the company at $4.1 billion. Vector Acquisition has traded on the Nasdaq for around $10 per share since being listed in September 2020 and the fund's stock also increased more than 30% to more than $14 per share following Rocket Lab's announcement.
The transaction is expected to close in Q2 2021 and is subject to approval by Vector's shareholders and other customary closing conditions. Upon closing, Vector will change its name to Rocket Lab USA, Inc. The newly combined company will also be publicly listed on the Nasdaq under the ticker RKLB. Current Rocket Lab shareholders will own 82% of the pro forma equity of combined company.