The Space Investor - 🚀 ARKX Buys Rocket Lab

📈 Market Max-Q

🚀 Top Stories

• While this is not the first Space SPAC to be owned in her ETF ($SPCE was held previously but was disposed in May 2021), this is the first Space SPAC of the 2021-2022 group that has been purchased for the fund.
   
• Many wondered when this would happen since $ARKX's March 2021 launch as it was largely questioned for owning positions in the company's other ETFs to Netflix.
   
• Currently, Rocket Lab only makes up 0.47% of the ETF, or the second smallest position, so it is nothing to get too excited about, but shows a welcomed change that investors have been looking and asking for with a 0.75% expense ratio.
   
• ARK's Autonomous Technology & Robotics ETF ($ARKQ) also acquired 568,745 $RKLB shares worth $2.4M, or 0.25% of the fund.

• The company plans "to secure a cutting-edge solution that will further connect its fleet of intelligent machines ... to enhance the satellite connectivity that Deere is already delivering to its customers today, and is a critical step in the company's commitment to creating value for farmers around the world."
   
• "We believe SATCOM will unlock significant opportunities in agriculture by enabling farmers to take advantage of innovative technologies that rely on real-time information and communication," said Lane Arthur, VP of Data, Applications and Analytics.

• The equity distribution agreement allows the company to offer and sell Class A common stock that would result in aggregate gross proceeds of up to $50M.
   
  • The shares will be offered through Stifel, Nicolaus & Company.
     
• Momentus plans to use the proceeds for the continued development and future enhancements of the Vigoride orbital service vehicle and general corporate purposes like working capital, CapEx, repayment / refinancing of debt, R&D, acquisitions, or technologies and investments.

🛰️ In Other News

📊 Chart of the Week

🔗 Links

🗣️ Opinion

📅 Earnings Calendar