Rocket Lab, the launch company founded by Sir Peter Beck and based mainly in New Zealand, has filed to raise $750 million (€636m) of fresh cash in the form of Common Stock. The move will dilute shareholder value by a modest 3 per cent but take the rocket-builder’s cash at hand to some $1.5 billion. Rocket Lab is quoted on the NASDAQ exchange.

Rocket Lab is using Bank of America, Needham, Roth Capital as its agents. The company raised $500 million back in March.

Rocket Lab has built a new launch pad at the Wallops Island (Virginia) facility which will handle Neutron launches. The company’s Neutron rocket is under development.

The company sees Neutron as a major contender to ease availability in demand from both commercial and military customers looking to launch. Today, that demand is in large part being met by a single provider in the medium-lift market, Elon Musk’s SpaceX.

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Categories: Articles, Business, Funding, Satellite

Tags: new zealand, Rocket Lab, satellite