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Ownership Report - February 14, 2024
Bessemer Venture Partners holds 8.4% of Rocket Lab shares as of Dec 31, 2023 after July distribution.
Brief
This SC 13D/A (Amendment No. 4) updates Bessemer Venture Partners' beneficial ownership in Rocket Lab USA, Inc. As of Dec 31, 2023, affiliates hold 40,738,544 shares (8.4% of 485.9M outstanding). It discloses a pro rata distribution of 8,142,482 shares to limited partners on July 26, 2023. Investors should note continued significant VC stake.
Detailed Brief
Rocket Lab USA, Inc. (RKLB), a space launch provider, had Bessemer Venture Partners VIII funds as early backers through its 2021 SPAC merger with Vector Acquisition Corp. This Amendment No. 4 to Schedule 13D, filed Feb 14, 2024, reports ownership as of Dec 31, 2023: BVP VIII Inst owns 22,243,247 shares (4.6%), BVP VIII owns 18,495,297 shares (3.8%), with GPs Deer VIII L.P. and Deer VIII Co. Ltd. deemed to beneficially own the aggregate 40,738,544 shares (8.4%), calculated on 485,886,993 shares outstanding per Nov 2023 10-Q. Item 5(c) details a July 26, 2023 distribution of 8,142,482 shares pro rata to limited partners and Deer VIII L.P., with further downstream distributions, reducing concentrated holdings but maintaining GP oversight. Excludes potential earnout shares from merger. No new acquisitions, sales, or activist plans disclosed; reporting persons disclaim group status. This confirms stable long-term investor presence amid Rocket Lab's growth in launches and Neutron rocket development.
Key Telemetry
- • Aggregate beneficial ownership: 40,738,544 shares (8.4%) by Deer VIII entities as of Dec 31, 2023.
- • BVP VIII Inst: 22,243,247 shares (4.6%); BVP VIII: 18,495,297 shares (3.8%).
- • Pro rata distribution of 8,142,482 shares to LPs on July 26, 2023.
- • Percentages based on 485,886,993 shares outstanding per Nov 3, 2023 10-Q.
- • No shared voting/dispositive power; excludes merger earnout shares.
Impact Vector
Rocket Lab investors can view this positively as Bessemer, an early institutional backer, retains a substantial 8.4% stake post-distribution to LPs, signaling ongoing confidence without market sales. Near-term, no dilution or pressure from activist agenda; strategically supports credibility for capital raises and partnerships. Monitor future 13D filings for any sales or ownership shifts amid RKLB's cash burn and Neutron progress.