Rocket Lab completes preferred stock exchange with founder, issuing 50.95M Series A shares

Rocket Lab Corp

On Jan 7, 2025, Rocket Lab issued 50,951,250 shares of Series A Convertible Participating Preferred Stock to Sir Peter Beck's trust.
Each preferred share is convertible into common at holder's option; automatic conversion on transfer, CEO departure, death, or <5% beneficial ownership.
Holders voting as a separate class may elect at least one director (or 10% of board if board exceeds 10 members).
Preferred stock is not redeemable by the company; liquidation preference of $0.0001 per share, then participates pari passu with common.
Exchange previously disclosed on Dec 3, 2024; consummation filed Certificate of Designation with Delaware Secretary of State.

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