5 Stocks Investors Are Chasing Right Now

4. Iridium Communications Inc. (NASDAQ:IRDM)

Iridium Communications soared to a nearly three-year high on Monday, as investors gobbled up shares following news that it is set to merge with Rocket Lab Corp. for $8 billion.

The two parties announced the signing of a definitive agreement on the same day, under which Rocket Lab will acquire all issued and outstanding shares of Iridium Communications Inc. (NASDAQ:IRDM) in a combination of cash and stock.

Under the terms of the agreement, Iridium Communications Inc. (NASDAQ:IRDM) shareholders are set to receive $27 in cash and shares of Rocket Lab, calculated pursuant to an exchange ratio for each share of Iridium common stock outstanding at the closing, which, if combined, would equate to $54 apiece.

Complete details on the exchange ratio calculation will be in the transaction agreement, which will be filed with the Securities and Exchange Commission.

The transaction is expected to be completed in the middle of 2027, subject to regulatory approvals, including approval of Iridium Communications Inc. (NASDAQ:IRDM) stockholders, among others.

The transaction has been unanimously approved by the boards of directors of both companies.

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