The Latest SPAC News and Rumors: August 12, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Rocket Lab proves its business model and will benefit from increase in military spending

Unlike Other Former SPACs, Rocket Lab is Already Science, Not Fiction

The small-satellite launcher has already proven its business model and will benefit from a post-Ukraine increase in military spending.

On Thursday, a spy satellite run by the U.S. National Reconnaissance Office shot into space from New Zealand. The rocket carrying it, the Electron, was built by Rocket Lab, a U.S.-Kiwi startup founded in 2006 by self-taught rocket engineer Peter Beck.

Rocket Lab (NASDAQ:RKLB) , which completed its combination with Vector Acquisition Corp in August 2021, 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. Rocket Lab and Vector initially announced their $4.1 billion combination on March 1, 2021.