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Ownership Report - February 16, 2021
Glazer Capital discloses 9% passive stake in Vector Acquisition Corp SPAC pre-Rocket Lab merger.
Brief
This SC 13G filing discloses that Glazer Capital, LLC and Paul J. Glazer beneficially own 2,710,619 Class A Ordinary Shares (9.0%) of Vector Acquisition Corp as of December 31, 2020. Filed under Rule 13d-1(b) as passive investors with no intent to influence control. Relevant to Rocket Lab investors as Vector was the SPAC that merged with Rocket Lab in 2021, carrying over this stake.
Detailed Brief
Vector Acquisition Corp, a SPAC, merged with Rocket Lab USA in 2021 to take it public as RKLB. This initial Schedule 13G, filed February 16, 2021, reports Glazer Capital, LLC (Delaware LLC, investment adviser) and its Managing Member Paul J. Glazer holding 2,710,619 Class A Ordinary Shares (part of units, CUSIP G9442R126), representing 9.0% of 30,000,000 outstanding shares, with shared voting and dispositive power via managed funds. They certify passive holding in ordinary course of business, not for control. No group or subsidiaries involved beyond managed accounts like Glazer Enhanced Offshore Fund Ltd.
Key Telemetry
- • Glazer Capital and Paul Glazer beneficially own 2,710,619 shares (9.0%) of Vector's Class A Ordinary Shares as of Dec 31, 2020.
- • Passive investor filing under Rule 13d-1(b); no control intent.
- • Vector Acquisition Corp SPAC merged with Rocket Lab in 2021 to form RKLB.
- • Shares held via Glazer Funds; shared voting/dispositive power.
Impact Vector
For Rocket Lab (RKLB) investors, this reflects pre-merger institutional interest from Glazer Capital, a 9% holder in the SPAC, likely converting to RKLB shares post-merger. As a passive 13G filing, it signals no activist agenda, reducing near-term governance risks. Monitor for potential 13D conversion if stance changes, share sales, or amendments indicating reduced stake amid RKLB's growth in launch services.