425 ·Filed Jun 29, 2026
Rule 425 M&A communications
Actionable Insight ▲ Bullish
No new trading catalyst from this filing; monitor for regulatory developments and S-4 proxy filing. Spread between Iridium's current stock price and $54 deal value reflects deal-closing risk and time value.
Final — all horizons settled through T+60d ⚠ clustered
IRDM ▼ -11.94% at T+60d
LONG call ✗ call lost -11.94% · α vs SPY -14.76% · entry $54.85 → $48.30
T+1d
+1.59%
call +1.59% · α +1.72%
$55.72
settled 3mo ago
T+5d
-4.12%
call -4.12% · α -4.72%
$52.59
settled 3mo ago
T+20d
-16.21%
call -16.21% · α -15.18%
$45.96
settled 2mo ago
T+60d
-11.94%
call -11.94% · α -14.76%
$48.30
settled 9d ago
Price Chart
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Executive Summary
Iridium CEO confirms acquisition by Rocket Lab at $54/share ($27 cash + Rocket Lab stock), implying ~$8B enterprise value and ~24% premium; no new material terms or changes from the original June 28, 2026 announcement.
Key Financial Metrics
Premium
24%
Deal Type
merger
Key Facts
- Rocket Lab to acquire Iridium at $54/share: $27 cash + variable exchange ratio of Rocket Lab common stock via collar
- Enterprise value ~$8B, ~24% premium to Iridium's closing price on June 26, 2026
- Transaction expected to close mid-2027, subject to Iridium stockholder vote and regulatory approvals
- CEO video transcript filed as Rule 425 communication to employees; no changes to deal structure or financial terms
Financial Impact
$54/share cash-and-stock consideration, ~$8B enterprise value
revenueearningsstock price
Risk Factors
- Deal may not close due to antitrust or national security review
- Rocket Lab stock price fluctuations could alter effective consideration under collar
- Shareholder vote or regulatory conditions could delay or block transaction
Market Snapshot
Exchange
Nasdaq
Sector
Communications Services, NEC
Analyst Consensus
65% bullish (17 analysts)
Investment Themes
Space & Satellites
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-078931 |
| Document: 0001104659-26-078931-index-headers.html | 0001104659-26-078931 |
| Document: 0001104659-26-078931-index.html | 0001104659-26-078931 |
| Document: 0001104659-26-078931.txt | 0001104659-26-078931 |
23 reports for IRDM
100% Hit rate best @ T+60▲ +13.56%
Filters
Rows
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 425 | $47.09 $48.65 | ▲ +3.31% | ▲ +1.20% | $49.14 (+4.35%) |
Sep 15, 2026 17d ago | 8-K | $47.09 $48.65 | ▲ +3.31% | ▲ +1.20% | $49.14 (+4.35%) |
Sep 3, 2026 28d ago | 425 | $47.21 $46.18 | ▼ −2.18% | ▼ −0.97% | $49.14 (+4.09%) |
Aug 19, 2026 6w ago | Insider Cluster | $48.45 $47.64 | ▼ −1.67% | ▼ −2.79% | $49.14 (+1.42%) |
Aug 19, 2026 6w ago | Insider Cluster | $48.71 $47.20 | ▲ +3.10% | ▲ +2.71% | $49.14 (−0.88%) |
Aug 10, 2026 7w ago | 8-K | $49.38 $49.03 | ▼ −0.71% | ▼ −0.31% | $49.14 (−0.49%) |
Aug 6, 2026 8w ago | 425 | $49.93 $50.20 | ▲ +0.54% | ▲ +0.14% | $49.14 (−1.58%) |
Jul 22, 2026 10w ago | 8-K | $46.86 $44.36 | ▼ −5.33% | ▼ −2.93% | $49.14 (+4.87%) |
Jul 9, 2026 12w ago | Press Release | $50.06 $46.61 | ▲ +6.89% | ▲ +6.33% | $49.14 (+1.84%) |
Jul 6, 2026 12w ago | 425 | $51.09 $48.86 | ▼ −4.36% | ▼ −4.92% | $49.14 (−3.82%) |
Showing 10 of 23
US Market Status
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