New Zealand / Business

Rocket Lab bid to raise US$467M on Nasdaq

11:50 am on 21 August 2021

Rocket Lab shares are due to begin trading on New York's Nasdaq exchange on Thursday.

Photo: Rocket Lab

The company founded by Peter Beck intends to raise US$467 million in the float, which observers said signals an initial market capitalisation on the exchange of over four and a half billion dollars.

Rocket Lab first announced plans to go public in March, along with plans to build a medium-lift rocket called Neutron.

In 2020, Rocket Lab had $35M in revenue, but it has forecasted more than one billion in revenue by 2026 - roughly 60 percent from launches, and 40 percent from space systems.