Bartis HK - Launch Contract for US Government Satellites Lifts Rocket Lab Shares

Rocket Lab USA (RKLB) stock soared after the satellite launch business said it had acquired a $515 million federal contract.
CENTRAL, Hong Kong - Dec. 26, 2023 - PRLog -- According to a regulatory filing, the deal asks for Rocket Lab to "design, manufacture, deliver, and operate 18 space vehicles." It will get a base of $489 million, plus up to $26 million in incentives.

Rocket Lab said that development will begin immediately, with vehicle delivery anticipated for 2027. The satellites would be operational until 2030, with a possibility to prolong that until 2033.

Peter Beck, a rocket engineer and CEO, created Rocket Lab in 2006. Last Thursday, the business successfully launched its 42nd Electron rocket and installed a satellite for the Institute for Q-shu Pioneers of Space, a Japan-based Earth photography organization. It was the company's tenth Electron flight of the year.

With today's gains, Rocket Lab USA shares are up more than 25% this year.

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