rocket lab

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.

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A Long Beach company that has taken on SpaceX to become one of the leaders in small satellite launches is set to go public next week.

Rocket Lab will arrive on Wall Street in a deal with a blank-check company that pegs the 15-year old satellite launcher's value at $4.1 billion.

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It looks like Rocket Lab will be lifting off again very soon.

The first of three back-to-back launches is expected to take place at an unspecified date later this month as part of a multi-launch agreement between the Long Beach-based space systems company and BlackSky, a global monitoring company with offices in Herndon, Virginia, and Seattle, Washington.

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