Rocket Lab to Acquire Mynaric

MT Newswires Live03-11

Rocket Lab USA (RKLB) said Tuesday it entered into a non-binding term sheet with certain lenders to acquire a controlling equity position in Mynaric, with the potential to acquire 100% of its equity following the completion of its restructuring.

The transaction is subject to government approvals and other closing conditions, the company said.

Rocket Lab expects to pay an initial purchase price of about $75 million, either in cash or shares of its common stock.

An additional earn-out consideration of up to $75 million may be paid in stock or cash, depending on Mynaric's future revenue performance.

Shares of Rocket Lab were down 2.1% in after-hours activity.

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