Rocket Lab Corporation (NASDAQ:RKLB) announced its largest-ever launch contract, a $266 million multi-launch agreement with the United States Space Force's Rocket Systems Launch Program. The deal covers 12 suborbital missile-defense launches, with an option for six more missions, to be conducted from the Pacific Spaceport Complex in Kodiak, Alaska. Despite the record contract, Rocket Lab's shares initially rose 5% but largely gave back gains by the closing bell, reflecting broader market concerns over corporate balance sheets and industry liquidity shifts rather than incremental defense wins. The company's stock has fallen over 55% from its May high, partly due to merger arbitrage pressure from its $8 billion acquisition of Iridium Communications.