We are advising Iridium on the transaction

Davis Polk is advising Iridium Communications Inc. on its sale to Rocket Lab Corporation. Under the definitive agreement, Rocket Lab will acquire all outstanding shares of Iridium common stock in a cash-and-stock transaction, representing an enterprise value for Iridium of approximately $8 billion. The transaction is expected to be completed in mid-2027, subject to customary closing conditions, including regulatory approvals.

Iridium Communications operates the world’s only truly global mobile satellite network, delivering reliable voice, data and positioning, navigation and timing services anywhere on Earth. Iridium supports safety- and mission-critical operations for diverse markets such as aviation, maritime, government, emergency services, critical infrastructure, autonomous systems and remote monitoring applications, where connectivity is essential.

Rocket Lab is a leading space company that provides launch services, spacecraft, payloads and satellite components serving commercial, government and national security markets. Rocket Lab’s spacecraft and satellite components have enabled more than 1,700 missions spanning commercial, defense and national security missions including GPS, constellations, and exploration missions to the Moon, Mars and Venus.

The Davis Polk corporate team includes partners Harold Birnbaum and Shanu Bajaj and associates Samuel Liebmann and Itay Kazaz. Partners Arthur J. Burke and Matthew Yeowart are providing antitrust and competition advice. Partner Veronica M. Wissel is providing executive compensation advice. Partner Corey M. Goodman is providing tax advice. Partner Hilary Dengel is providing finance advice. Partner Ben Joseloff is providing regulatory advice. Members of the Davis Polk team are based in the New York and London offices.

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