<html><head></head><body><a href="https://old.spacinsider.com/spac-profiles/">Vector Acquisition Corp.</a> (NASDAQ:VACQ) announced in a <a href="https://www.businesswire.com/news/home/20210820005293/en/">press release</a> today that its shareholders approved its combination with space service provider Rocket Lab in a meeting held earlier this morning.
Vector also announced that holders of less than 3% of its shares were redeemed in connection with the proposed merger, making it the best vote of the week. All but one of the six other SPACs that have reported redemptions within the past week have seen 68% or more of their trusts redeemed. <a href="https://old.spacinsider.com/2021/08/12/software-acquisition-group-inc-ii-shareholders-approve-otonomo-deal/">Software Group II</a> (NASDAQ:SAII) was the outlier as it saw just 34.7% of its trust redeemed, while <a href="https://old.spacinsider.com/2021/08/18/liv-capital-acquisition-corp-shareholders-approve-agilethought-deal/">LIV Capital</a> (NASDAQ:LIVK) was on the heavier side of redemptions with 93%.
As a result, the gross amount of cash that that the combined company will receive from Vector’s trust account and concurrent PIPE financing upon the closing of these transactions, before transaction expenses, will equal approximately $777 million.
The merger is scheduled to close on August 25, and the combined company’s common stock and warrants, which will be renamed “Rocket Lab USA, Inc.”, are set to start trading on the Nasdaq Capital Market also on August 25, under the new ticker symbols, “RKLB” and “RKLBW”, respectively.
Vector initially announced the<a href="https://old.spacinsider.com/2021/03/01/vector-acquisition-corporation-to-combine-with-rocket-lab-in-4-1bn-deal/"> $4.1 billion deal</a> with Rocket Lab on March 1. Rocket Lab provides end-to-end satellite delivery services through to two launch system designs and has placed 97 satellites in orbit since its first launch in 2018.
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<h3>ADVISORS</h3>
<ul>
<li>Morgan Stanley &amp; Co. LLC is serving as sole financial advisor to Rocket Lab.</li>
<li>Goodwin Procter LLP serving as legal counsel to Rocket Lab.</li>
<li>Morgan Stanley &amp; Co. LLC is also acting as the lead placement agent for Vector on the PIPE and capital markets advisor.</li>
<li>Deutsche Bank Securities is serving as sole financial advisor and capital markets advisor to Vector as well as placement agent on the PIPE.</li>
<li>Kirkland &amp; Ellis LLP serving as legal advisor.</li>
</ul>
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Vector Acquisition Corp. (VACQ) Shareholders Approve Rocket Lab Deal

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