Item 8.01Item 8.01 - Other Events
Item
8.01 Other Items.
On
August 13, 2026, the Company entered into an equity distribution agreement (the “Equity
Distribution Agreement”) with Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, as sales agents (in such capacity,
each, a “Sales Agent” and, collectively, the “Sales Agents”), the Forward Sellers (as defined below) and the
Forward Purchasers (as defined below). Under the Equity Distribution Agreement, the Company may offer and sell, from time to time, shares
of the Company’s common stock, par value $0.0001 per share (“Common Stock”) (the “Shares”), through or
to the Sales Agents, acting as the Company’s agents or principals, having an aggregate offering price of up to $1,944,369,826 or
by the Forward Sellers, acting as sales agents for the relevant Forward Purchasers.
The
Equity Distribution Agreement provides that, in addition to the issuance and sale of shares of Common Stock through the Sales Agents
acting as sales agents or directly to the Sales Agents acting as principals, the Company also may enter into forward sale agreements
under separate forward sale confirmations between the Company and Deutsche Bank AG, London Branch and Wells Fargo Bank, National Association
or one or more of their respective affiliates. These entities, when acting in such capacity, are referred to herein as “Forward
Purchasers.” In connection with each forward sale agreement, the relevant Forward Purchaser (or its affiliate or agent) will, at
the Company’s request, attempt to borrow from third-party stock lenders and, through the relevant Sales Agent, sell a number of
shares of Common Stock equal to the number of shares that underlie the forward sale agreement to hedge such forward sale agreement. Each
of the Sales Agents, when acting as the agent for a Forward Purchaser, is referred to herein as a “Forward Seller.” Transactions
contemplated by the forward sale agreements are referred to herein as “Forward Transactions.”
In
a Forward Transaction under one form of forward sale agreement, referred to as an “Initially Priced Forward Transaction,”
the Company may enter into one or more Initially Priced Forward Transactions with a Forward Purchaser, pursuant to which the Company
will receive the forward sale price under the forward sale agreement at the settlement of the Initially Priced Forward Transaction, subject
to the price adjustment and other provisions of the applicable forward sale agreement. The initial forward sale price per share under
each Initially Priced Forward Transaction will be equal to the product of (1) an amount equal to one minus the applicable forward hedge
selling commission rate and (2) the adjusted volume weighted average hedge price per share at which the borrowed shares of Common Stock
were sold pursuant to the Equity Distribution Agreement by the relevant Forward Seller to hedge the relevant Forward Purchaser’s
exposure under such Initially Priced Forward Transaction. The Company will not initially receive any proceeds from the sale of borrowed
shares by the relevant Forward Seller. The Company expects to receive proceeds from the sale of shares of Common Stock upon future physical
settlement of the relevant Initially Priced Forward Transaction with the relevant Forward Purchaser on dates specified by the Company
on or prior to the maturity date of such Initially Priced Forward Transaction. In an Initially Priced Forward Transaction, the Company
expects to receive aggregate cash proceeds equal to the product of the initial forward sale price under such Forward Transaction and
the number of shares of Common Stock underlying such Forward Transaction, subject to the price adjustment and other provisions of the
applicable forward sale agreement. If the Company elects to cash settle or net share settle an Initially Priced Forward Transaction,
the Company may not (in the case of cash settlement) or will not (in the case of net share settlement) receive any proceeds, and the
Company may owe cash (in the case of cash settlement) or shares of Common Stock (in the case of net share settlement) to the relevant
Forward Purchaser.
In
a separate Forward Transaction under another form of forward sale agreement, referred to herein as a “Collared Forward Transaction,”
the Company may enter into one or more collared forward transactions (“Collared Forward Sale Agreements”) with Deutsche Bank
AG, London Branch or Wells Fargo Bank, National Association, each acting in its capacity as a Forward Purchaser (the “Collared
Forward Purchaser”), pursuant to which the Company will agree to sell to the relevant Collared Forward Purchaser up to the number
of shares of Common Stock specified in the Collared Forward Sale Agreement (subject to adjustment as set forth therein) and the relevant
Collared Forward Purchaser will borrow from third-party stock lenders and sell the maximum number of shares of Common Stock deliverable
pursuant to the Collared Forward Transaction (the “Hedging Shares”) through the related Sales Agent, acting as a Forward
Seller (the “Collared Forward Seller”) over a period of time to be agreed between the Company and the relevant Collared Forward
Purchaser (an “Initial Hedging Period”), all subject to the terms of the Equity Distribution Agreement and the Collared Forward
Sale Agreement. The Company has been advised by each Collared Forward Purchaser that it expects that, on the same days during the Initial
Hedging Period when the Collared Forward Seller is selling a number of Hedging Shares underlying the Collared Forward Transaction, the
relevant Collared Forward Purchaser or its affiliates or agents will be contemporaneously purchasing a substantial portion of such number
of shares in the open market for its own account, as each Collared Forward Purchaser expects its initial hedge position in respect of
the Collared Forward Transaction to be less than the maximum number of shares underlying the Collared Forward Transaction. The floor
price and the cap price of the Collared Forward Transaction will be determined upon completion of the Initial Hedging Period for the
Collared Forward Transaction by multiplying the weighted average prices at which the relevant Collared Forward Seller will have sold
the Hedging Shares during the Initial Hedging Period for the Collared Forward Transaction (the “Hedge Reference Price”) by
the floor percentage and the cap percentage specified in the Collared Forward Sale Agreement, respectively. The forward sale price that
the Company will receive with respect to any component under any Collared Forward Transaction (the “Collared Forward Sale Price”)
for each share of Common Stock deliverable thereunder will be equal to an amount determined based on the volume weighted average price,
as measured under the Collared Forward Sale Agreement of the Common Stock (the “Settlement Reference Price”) on the applicable
valuation date for such component and will not be less than the floor price for such component and will not be more than the cap price
for such component, subject to adjustment under the terms of the Collared Forward Sale Agreement.
The
Company will not initially receive any proceeds from the sale of borrowed shares of Common Stock by a Collared Forward Seller. On each
prepayment date for any component of a Collared Forward Transaction, which will be a date designated by the Company sometime prior to
the valuation date for such component (each, a “Component Prepayment Date”), the relevant Collared Forward Purchaser will,
upon the Company’s request, prepay to the Company an amount in cash equal to the present value of (A) the product of (x) the number
of shares underlying such component and (y) the floor price for such component minus (B) the product of the (x) number of shares underlying
such component of the relevant Collared Forward Transaction, (y) Forward Hedge Selling Commission Rate (as defined in the applicable
Collared Forward Sale Agreement) and (z) Hedge Reference Price, and the Company will issue and pledge the maximum number of shares underlying
such component. If a Component Prepayment Date with respect to such component previously occurred, the relevant Collared Forward Purchaser
will pay to the Company an amount of cash equal to the product of (x) the number of shares underlying such component and (y) the excess
of the Collared Forward Sale Price for such component over the floor price for such component and if a Component Prepayment Date with
respect to such component has not occurred, the relevant Collared Forward Purchaser will pay to the Company an amount of cash equal to
(A) the product of the (x) number of shares underlying such component and (y) the Collared Forward Sale Price for such component minus
(B) the product of the (x) number of shares underlying such component of the relevant Collared Forward Transaction, (y) Forward Hedge
Selling Commission Rate and (z) Hedge Reference Price. On each Component Prepayment Date, the Company will be required to issue and pledge
to the relevant Collared Forward Purchaser the maximum number of shares underlying such component. In addition, to the extent the Collared
Forward Sale Price with respect to any component of a Collared Forward Transaction exceeds the floor price for such component, the Company
expects to receive such excess at maturity of such component. However, the Company will, subject to certain conditions specified in the
Collared Forward Sale Agreement, have the right to elect to receive such excess in the form of Common Stock, instead of cash, with the
number of shares to be calculated based on the Settlement Reference Price on the applicable valuation date for such component, in which
case the Company expects its obligation to deliver shares of Common Stock to the relevant Collared Forward Purchaser at such maturity
will be reduced by such amount. In connection with each Collared Forward Transaction, the relevant Collared Forward Seller may receive,
reflected in a reduced Collared Forward Sale Price payable by the relevant Collared Forward Purchaser under the related forward sale
agreement, a commission of up to 2.00% of the volume weighted average of the sales prices of all borrowed shares of Common Stock sold
during the applicable forward hedge selling period by it as a Forward Seller, and any such commission will be deducted from the amount
paid to the Company on each Component Prepayment Date or settlement date, as applicable.
In
the event that the relevant Forward Purchaser or its affiliate or agent is unable to borrow and deliver any shares of Common Stock for
sale by the relevant Forward Seller under the Equity Distribution Agreement or it would incur a stock loan cost that is equal to or greater
than a specified amount, the number of shares underlying the relevant Forward Transaction will be reduced accordingly (and possibly to
zero shares) immediately upon completion of the applicable hedging period.
The
relevant Forward Seller is not required to sell any specific number or dollar amount of shares of Common Stock, but, subject to the terms
and conditions of the applicable Forward Transaction, the relevant Forward Seller will use its commercially reasonable efforts, consistent
with its normal trading and sales practices, to borrow from third-party stock lenders and sell up to the designated number of shares
of Common Stock during the Initial Hedging Period. In respect of any sales during the Initial Hedging Period by the relevant Forward
Seller on behalf of the relevant Forward Purchaser, the Company may specify that no shares of Common Stock may be sold, if the sales
cannot be effected at or above the price designated by the Company, and the Company may specify other trading parameters for such sales
(including volume limitations). Accordingly, any sales by the relevant Forward Seller may be suspended at any time, and there can be
no assurance that the relevant Forward Seller will be able to sell any shares pursuant to the Equity Distribution Agreement. Only one
Sales Agent or Forward Seller will be permitted to conduct sales of shares of Common Stock at any given time pursuant to the Equity Distribution
Agreement, and no sales of shares of Common Stock by any Sales Agents acting on the Company’s behalf, or by the relevant Forward
Seller on behalf of the relevant Forward Purchaser in connection with any Initially Priced Forward Transaction, will occur simultaneously
with any sales of the Hedging Shares by a Collared Forward Seller on behalf of a Collared Forward Purchaser or contemporaneous purchases
of shares by such Collared Forward Purchaser in connection with the establishment of its initial delta hedge with respect to any Collared
Forward Transaction.
The
Company will pay each of the Sales Agents a commission not to exceed 2.00% of the sales price per share of shares sold through it as
agent under the Equity Distribution Agreement. The net proceeds that the Company will receive from such sales will be the gross proceeds
from such sales less the commissions and any other costs that the Company may incur in issuing the shares. In connection with each Initially
Priced Forward Transaction, the relevant Forward Seller will receive a commission of up to 2.00% of the volume weighted average of the
sales prices of all borrowed shares of Common Stock sold during the applicable hedge period by it as a Forward Seller, reflected in a
reduced initial forward sale price payable by the relevant Forward Purchaser under its forward sale agreement. In respect of a Collared
Forward Transaction, if such a commission is payable, it will be deducted from the proceeds the Company receives on any Component Prepayment
Date or settlement date, as applicable.
The
offer and sale of the Shares will be made pursuant to a shelf registration statement on Form S-3, which Rocket Lab USA, Inc., the Company’s
predecessor, filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2025, which automatically became
effective upon filing, as amended by Post-Effective Amendment No. 1 to such registration statement, filed by the Company with the SEC
on May 27, 2025, and a related prospectus supplement, which the Company filed with the SEC on August 13, 2026.
The
Equity Distribution Agreement may be terminated for any reason, at any time, by either the Company, an Agent, as to itself, or a Forward
Purchaser, as to itself, upon the giving of two (2) days prior written notice to the other parties thereto. The Equity Distribution Agreement
contains customary representations and warranties and conditions to the placements of the Shares pursuant thereto.
The
foregoing summary of the Equity Distribution Agreement and the Forward Transactions does not purport to be complete and is qualified
in its entirety by reference to the full text of the Equity Distribution Agreement, including the forms of confirmations relating to
an Initially Priced Forward Transaction and a Collared Forward Transaction attached thereto, a copy of which is filed as Exhibit 1.1
hereto, respectively, and is incorporated by reference herein.