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Shares of Rocket Lab Corp (RKLB) edged up 3% after hours on Wednesday after the company secured a $190 million contract under which it will conduct 20 hypersonic test flights with its HASTE launch vehicle.
The contract is part of a U.S. Department of War effort executed in partnership with Naval Surface Warfare Center Crane Division to accelerate hypersonic flight tests, the company said.
The company will now perform 20 hypersonic test flights with its HASTE launch vehicle over a four-year period. The first of the missions is slated to take place within months of contract signing, it added.
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