The space industry docket for Monday is packed with a slew of rocket launches and acquisition news. SpaceX already completed one launch of Starlink satellites early Monday. It has another potentially on tap for tonight. Meanwhile, rival Rocket Lab (RKLB) successfully launched two missions in the last 24 hours. It also received a semiconductor chip contract from the government. Elsewhere, Mobix Labs (MOBX) announced the acquisition of manufacturer Spacecraft Components.
↑
X
Can This Starlink Rival’s Satellite Cellular Network Live Up To Sky-High Expectations?
SpaceX at 5:02 a.m. ET on Monday launched a Falcon 9 rocket with 23 Starlink satellites into low-Earth orbit from the Cape Canaveral Space Force Station in Florida. The payload included 12 units with direct-to-cell capabilities. Starlink is currently rolling out direct-to-cell capabilities broadly. It completed its first text message via T-Mobile‘s (TMUS) service early in the year.
SpaceX could launch a second Starlink mission Monday night, depending on the weather. The 4.5-hour window extends from 10:31 p.m. ET to 3:02 a.m.
Rocket Lab Launches, CHIPs Contract
Elsewhere, rival Rocket Lab on Monday announced it launched its 56th mission for its Electron rocket and its 14th mission of 2024, marking the second successful mission in less than 24 hours. Rocket Lab launched its Electron rocket from Mahia, New Zealand on Monday and successfully deployed five satellites to low-Earth orbit for Kineis, a French Internet of Things constellation operator.
The launch occurred just 21 hours and 55 minutes after Rocket Lab successfully completed a mission from its Launch Complex 2 in Virginia. The two events set a company record for the fastest turnaround between launches.
“Two successful launches less than 24 hours apart from pads in different hemispheres. That’s unprecedented capability in the small launch market and one we’re immensely proud to deliver at Rocket Lab,” CEO Sir Peter Beck said in the announcement.
Also on Monday, Rocket Lab announced it secured a $23.9 million incentive award to boost semiconductor manufacturing under the CHIPS and Science Act. The award will increase its compound semiconductor manufacturing capability and capacity at its facility in Albuquerque, New Mexico.
Rocket Lab produces semiconductors used in space-grade solar cells and other optoelectronic products, which are key components for national security and commercial applications, Rocket Lab said. The company claims it is one of only two in the U.S. specializing in producing radiation-hardened space-grade solar cells.
Rocket Lab boasts about 200 successful satellite launches for its Electron rocket, as well as more than 1,700 satellites launched to orbit with Rocket Lab technology.
RKLB stock pared gains to 3.6% Monday after surging to a record high of 25.58 in early trade.
Rocket Lab shares have soared more than 326% so far this year.
Mobix Labs Acquisition
Meanwhile, aerospace and defense parts manufacturer Mobix Labs on Monday announced plans to acquire Nevada-based supplier Spacecraft Components Corp. Spacecraft Components specializes in high-precision, mission critical parts, such as electrical connectors. Spacecraft’s components are used in missile technology, submarines, naval ships, oil rigs and railcars, as well as commercial and military aircraft.
Most notably, Spacecraft’s technology is utilized by the Patriot Missile program, and tactical manned and autonomous vehicles.
Mobix called the Spacecraft acquisition a “natural fit,” as they had been a long-standing supplier to the company.
“This acquisition is transformative for Mobix Labs, aligning with our strategy to diversify our markets and strengthen our position in mission-critical industries,” CEO Fabian Battaglia said. “Spacecraft’s exceptional reputation and product offerings, combined with Mobix Labs’ innovation and expertise, will drive significant growth opportunities for both companies.”
Mobix expects the purchase price to range from $18 million to $24 million, to be paid in a mix of cash and equity. The boards of both companies still need to conduct due diligence and approve the deal. But Mobix expects the acquisition to close in the first quarter of 2025.
Mobix expects the deal to add about 150 employees to its workforce. Meanwhile, Spacecraft Components generated $18.1 million in unaudited revenues for 2023, with forecasts for growth in the next two years.
MOBX stock climbed 1.4% Monday. Shares are trading around 73 cents, having fallen nearly 82% so far this year.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
YOU MAY ALSO LIKE:
Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists
Looking For The Next Big Stock Market Winners? Start With These 3 Steps
Join IBD Live And Learn Top Chart Reading And Trading Techniques From Pros
