Rocket Lab Is Ready To Launch SPAC and Satellite: What Investors Should Know About SpaceX Competitor

Rocket Lab is ready for takeoff. Not only is this rival to SpaceX going public via SPAC merger, but the company is also set for its 19th Electron mission to deploy its milestone 100th satellite.

What Happened: The company is merging with Vector Acquisition Corp VACQ and the flight window for mission “They Go Up So Fast” opens March 22.

The mission will deploy a range of satellites for commercial and government operators and place the next generation Rocket Lab Photon spacecraft in orbit ahead of a planned mission to the moon later this year.

BlackSky, which is also going public via SPAC merger, will have an Earth observation satellite on board. The company is merging with Osprey Technology Acquisition Corp SFTW.

Other customers for this launch are Fleet Space and Myriota. The mission will include a technology demonstration of a satellite for the University of New South Wales Canberra Space and a demonstration for the U.S. Army Space and Missile Defense Command.

The Rocket Lab launch will also operate on orbit as a risk reduction demonstration to build spacecraft heritage ahead of a planned mission to the moon later in 2021 and Venus in 2023.

“Photon Pathstone will demonstrate power management, thermal control and attitude control subsystems, as well as newly integrated technologies including deep-space radio capability, an upgraded reaction control system for precision pointing in space and sun sensors and star trackers,” according to the company.

The launch will take place from New Zealand and can be livestreamed here.

Related Link: Satellite Company BlackSky Gets Backing From Peter Thiel, SPAC Merger Deal: What Investors Should Know

Why It’s Important: Rocket Lab is going public in a merger valuing the company at a pro forma enterprise value of $4.1 billion. The company is one of two U.S. companies delivering regular access to orbit, with this mission providing a preview to the moon launch. 

Rocket Lab has completed 18 launches since 2018, with this next launch taking the company’s satellite deployment past the key milestone of 100.

Rocket Lab has a pipeline of $2.2 billion in deals, and estimates revenue to hit $69 million in fiscal 2021 and $176 million in fiscal 2022. The launch from Rocket Lab could help the company gain additional customers.

Price Action: Shares of Vector Acquisition are up 4% to $12.10 on Monday.

(Photo: Launch of the 17th Electron mission from New Zealand, Dec. 15, 2020, photo via Rocket Lab)