Rocket Lab Corp (RKLB): debt financing — Rocket Lab closes upsized $355M 4.25% convertible note due 2029, net proceeds ~$300M

Rocket Lab Corp

Issued $355M aggregate principal 4.250% convertible senior notes due Feb 2029; upsized from $300M due to oversubscription.
Net proceeds of ~$300.3M after $43.2M capped call cost and ~$11.5M underwriting/offering expenses.
Initial conversion price ~$5.13 per share; effective conversion price ~$8.04 after capped call transactions.
Proceeds used: ~$40M to repay equipment financing, remainder for working capital, potential M&A and growth.
Capped call transactions cover shares underlying notes to reduce dilution, cost $43.2M.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Rocket Lab Corp incurred senior notes of $355,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.250% per annum maturing February 1, 2029.

Instrument: senior notes
Principal: $355,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.250% per annum
Maturity: February 1, 2029
Event: incurrence

Exact text from the filing

On February 6, 2024, Rocket Lab USA, Inc. (the “Company”) issued $355,000,000 aggregate principal amount of its 4.250% Convertible Senior Notes due 2029 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rocket Lab Corp entered into Indenture with U.S. Bank Trust Company, National Association valued at $355,000,000 aggregate principal amount of its 4.250% Convertible Senior Notes due 2029 (effective 2024-02-06).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $355,000,000 aggregate principal amount of its 4.250% Convertible Senior Notes due 2029
Effective: 2024-02-06

Exact text from the filing

On February 6, 2024, Rocket Lab USA, Inc. (the “Company”) issued $355,000,000 aggregate principal amount of its 4.250% Convertible Senior Notes due 2029 (the “Notes”). The Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of February 6, 2024, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

Rocket Lab Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-011944

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