Three space companies that went public two years ago are seeking ways to build credibility with large institutional investors that have started dipping toes into the deflated market.
Launch vehicle and spacecraft developer Rocket Lab, space technology provider Redwire, and Earth observation operator BlackSky started trading shares within weeks of each other after their 2021 merger with a special purpose acquisition company (SPAC), a financial tool offering a fast-track to stock markets.
Like other space companies that merged with a SPAC, which requires less due diligence than a conventional IPO, their shares have fallen from a $10 listing price as investors pull back from the market, Space News reports.
Shares closed Sept. 14 at $5.26 for Rocket Lab, $4.12 for Redwire, and $1.30 for BlackSky. Read more.
