secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2026-06-29T11:09:00+00:00
Accession:  0001104659-26-078482
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iridium to be acquired by Rocket Lab for $27 cash per share plus variable stock consideration
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- Iridium shareholders receive $27.00 in cash plus a number of Rocket Lab shares per IRDM share, based on Exchange Ratio tied to RKLB VWAP.
- Exchange ratio: 0.4000 if RKLB VWAP ≤$67.50; $27/$RKLB VWAP if $67.50-$112.50; 0.2400 if ≥$112.50.
- Termination fee of $223.62 million payable by Iridium under certain conditions; deal must close by June 28, 2027 (extendable to Dec 28, 2027).
- Iridium board unanimously approved and recommends; directors holding ~1.6% of shares entered support agreements to vote in favor.
- Outstanding Iridium RSUs/PSUs assumed by Rocket Lab; Iridium options/CSARs canceled for cash consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000110465926078482/0001104659-26-078482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000110465926078482/tm2619278d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-078482

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