** Shares of rocket maker Rocket Lab RKLB.O fall 2.8% to $17.34 in extended trade
** RKLB will acquire a controlling stake in laser communications provider Mynaric M0YNn.DE for an initial purchase price of about $75 million
** Deal value could be bumped up to an additional $75 million if certain revenue targets are met
** Additionally, RKLB announced up to $500 million at-the-market $(ATM.UK)$ equity offering program to be handled by BofA Securities, Cantor, Stifel and TD Securities
** Per offering prospectus, RKLB has ~453.5 million shares outstanding as of February 21, giving it a market cap of $8.09 billion
** Co plans to use the proceeds to fund future growth, including its Mynaric acquisition
** RKLB stock down 30% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.