Rocket Lab Sputters In Its Wall Street Debut

Rachel Uranga

Rachel Uranga is dot.LA's Managing Editor, News. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.

Rocket Lab Sputters In Its Wall Street Debut

Rocket Lab sputtered in its Wall Street debut on Wednesday, as the company joined a clutch of aerospace companies going public via SPAC.

Trading under the ticker, RKLB shares closed down 9.85% to $10.43.

But the merger with 15-year-old Long Beach small satellite launcher will give Rocket Lab access to $777 million to grow its small rocket business, build the reusable 8-ton payload class Neutron rocket and expand into other space ventures.

"It's a tremendous amount of capital ... really puts us in a position not only to be aggressive in our organic growth but aggressive on our inorganic growth as well," Rocket Lab CEO Peter Beck told CNBC.

The merger could also help the company gain a larger foothold in the private space race and challenge SpaceX for dominance.

It couldn't come at a better time, with the market for satellite launches growing and the company mired in debt. Rocket Lab, which has raised $400 million in capital, lost $55 million alone last year, according to filings. That net loss is an increase from 2019, which saw the company lose about $30.4 million.

The company joins launch firm Astra went public in June, and Long Beach-based Virgin Orbit, which said it will go public this week via SPAC.

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Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

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How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

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