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Rocket Lab shares climb 3% as CEO backs Iridium acquisition

  • Rocket Lab CEO Peter Beck backed the proposed acquisition of Iridium Communications.
  • 3%: Rocket Lab shares climbed to $71.98 on Tuesday.
  • Iridium’s L-band spectrum was described as an asset that cannot be replicated at any price.

Rocket Lab shares rose 3% to $71.98 on Tuesday as CEO Peter Beck argued that the company’s proposed acquisition of Iridium Communications would secure the satellite operator’s L-band spectrum, an asset he said cannot be replicated at any price.

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