Iridium supplements proxy for $54/sh Rocket Lab merger; Sept 24 vote, lawsuits allege disclosure gaps

Iridium Communications Inc.

Three NY Supreme Court lawsuits (two NY County, one Suffolk) allege proxy disclosure deficiencies; company denies merit, voluntarily supplements.
Special meeting on Sept 24, 2026 for $54/share Rocket Lab merger; closing expected mid-2027.
Evercore precedent transactions: 10-14x TEV/EBITDA on ~$527M OEBITDA implies $28.69-$47.77/sh.
DCF implies $29.97-$45.54/sh using 9-10% discount rate; net debt ~$2,102M, 110.5M shares.
Rocket Lab implied value $61.22-$99.03 (2027) and $53.10-$101.69 (2028); analyst targets to $150.

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