Rocket Lab (NASDAQ:RKLB) announced this afternoon that it will be calling its warrant for shares as of January 21, 2022, based on the share trading above the $10.00 trigger price.
Warrantholders have until 5 pm EST on the 21st to exercise their warrants for shares at an exercise price of $11.50 or exercise them on a cashless basis. Holders who opt for the cashless route are to receive a number of shares based on the VWAP of the company shares for the 10 trading days immediately following this announcement.
Holders exchanging warrants in this way may receive a maximum 0.361 shares per warrant, depending on the formula. All private warrants are also being called simultaneously and the company had the right to make the call because shares have traded at or above $10 for 20 of 30 days at least three days prior to the call.
Any of the outstanding public warrants that remain unexercised after the deadline will be void, and those holders will be entitled to receive only the redemption price of $0.10 per warrant.
The company, which completed its combination with Vector Acquisition Corp in August, designs and manufactures the Electron small orbital launch vehicle and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 109 satellites to orbit for private and public sector organizations.
Rocket Lab and Vector Acquisition Corp. initially announced their $4.1 billion combination on March 1, 2021.


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