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Rocket Lab USA ( (RKLB) ) has provided an update.
Rocket Lab Limited has entered an Exchange Agreement with The Equatorial Trust to swap 50,951,250 shares of Common Stock for Preferred Stock, exempt from U.S. Securities Act registration. This move includes conversion rights and a director designation for Sir Peter, who will continue as CEO and Board Chair with a new employment agreement featuring competitive compensation and stock awards. The Preferred Stock grants voting rights akin to Common Stock, with no scheduled dividends and a minimal liquidation preference.
For detailed information about RKLB stock, go to TipRanks’ Stock Analysis page.