Vector Acquisition shareholders voted in favor of the SPAC’s combination with launch and space systems company Rocket Lab USA.
Vector said less than 3% of its Class A ordinary shares were redeemed ahead of the vote. As a result, the gross amount of cash that that the combined company will receive from Vector’s trust account and concurrent PIPE financing at closing, before transaction expenses, will equal approximately $777 million.
The merger is scheduled to close Aug. 25 when Rocket Lab USA stock and warrants are set to commence trading on the Nasdaq under RKLB and RKLBW respectively. Read more.