** Shares of space services firm Rocket Lab RKLB.O rise 12.94% to $95.50 premarket, set for their biggest one-day gain in over seven weeks

** RKLB to buy satellite communications provider Iridium Communications IRDM.O for $54 per share in cash-and-stock deal valued at about $8 billion

** Deal adds material revenue scale and is significantly accretive to co's cash flow generation and profitability, RKLB says

** As part of the deal, secures $3.6 billion bridge financing from Deutsche Bank, Wells Fargo

** Deal is expected to close in mid-2027

** As of last close, RKLB up 21.19% YTD