Capitalism in space: According to news reports today, the smallsat rocket company Rocket Lab is about to sign a deal that will make it a publicly traded stock in a merger with a venture capital company.
The Wall Street Journal reported today talks between the company and Vector Acquisitions Corp were nearing completion and could be finalised with 24 hours, and was expected to see Rocket Lab raise another $650 million in cash from other private investors.
Vector is a special-purpose acquisition company, a vehicle that recruits investors and lists before pursuing a business to buy. Vector, backed by tech private equity firm Vector Capital, raised $400m on launch in September.
Rocket Lab is one of a cluster of spaceflight operators jostling for global market share in the smaller-launch market, where the focus is on achieving reliable delivery of small cargoes to lower earth orbits. Any listing would catapult Rocket Lab – whose Mahia spaceport has delivered nearly 100 satellites into orbit – into the top rank of New Zealand companies, and represents a huge blow for the local NZX. With a valuation of $5.7b, it would have ranked as one the 10 largest companies on the national exchange.
According to Rocket Lab, it is not a New Zealand company but based in the U.S., despite the bulk of its operations being in New Zealand.
I will not be surprised it Rocket Lab’s stock price quickly rises once available for purchase. Unlike Virgin Galactic, this is a real company with a real product producing real profits. It is also very well placed to garner a healthy share in the emerging launch market of smallsats that is now arriving on the scene. The company is about to initiate launches from its second launchpad at Wallops Island in the U.S., which will also allow it to finally accelerate its launch pace to the promised twice a month pace it has been promising for the last two years.
From the press release: From the moment he is handed a possibility of making the first alien contact, Saunders Maxwell decides he will do it, even if doing so takes him through hell and back.
Unfortunately, that is exactly where that journey takes him.
The vision that Zimmerman paints of vibrant human colonies on the Moon, Mars, the asteroids, and beyond, indomitably fighting the harsh lifeless environment of space to build new societies, captures perfectly the emerging space race we see today.
He also captures in Pioneer the heart of the human spirit, willing to push forward no matter the odds, no matter the cost. It is that spirit that will make the exploration of the heavens possible, forever, into the never-ending future.
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