The $8 Billion Reason Rocket Lab Is Up Today

Rocket Lab (RKLB) stock soared on June 29 after the company announced a definitive agreement to acquire Iridium Communications (IRDM) for $54 per share.

As investors cheered the cash-and-stock deal that values IRDM at an enterprise value of $8 billion, RKLB rallied past its 100-day moving average (MA), signaling shifting momentum in favor of the bulls.

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Despite today's surge, however, Rocket Lab shares remain down about 35% versus their year-to-date high.

To fund the IRDM transaction, Rocket Lab has secured a $3.6 billion senior secured bridge loan facility backed by Deutsche Bank and Wells Fargo.

RKLB will absorb Iridium's robust global customer base of over 2.55 million active commercial and government subscribers, securing an immediate foothold in the global L-band satellite services market.

RKLB stock rallied on Monday becaus

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/8-billion-reason-rocket-lab-201800021.html)