Rocket Lab
Launch Finance
Deal RGS-001

Rogue Space · Orbital Tug Demo 1

Rendezvous and proximity operations demonstrator targeting commercial debris inspection contracts.

Finance Review
Executive summary
Company
Rogue Space
Mission
Orbital Tug Demo 1
Vehicle
Electron
Launch window
Q3 2026
Coverage
Launch plus in-orbit
Deal owner
M. Chen — SFC
Contact
Avery Kim
Email
avery@roguespace.io
Target orbit
SSO 550 km
Space Risk Readiness
0%Incomplete
Top underwriting concerns
No concerns flagged yet.
Missing sections
Company InformationAsset and Mission ProfileOrbit and EnvironmentMission Phase Risk and CoverageCurrent Coverage StructureRegulatoryFinancing and Investor RequirementsTesting and ValidationOperations and Cyber PostureKey Risks and Coverage Gaps
Coverage phases requested
Not specified.
Current coverage & gaps
In place
None disclosed.
Exclusions
Not specified.
Regulatory flags
FAA license—
ITAR—
§50914 liability—
Cross-waivers—
Financing & assignment
Financing structure—
Lender requirements—
Assignment of proceeds—
Operations & cyber posture
Ground segment—
Network segmentation—
TT&C encryption—
Incident history—
Testing maturity
Qualification—
Environmental scope—
HIL testing—
Tests completed
None recorded.
Section completion
Company Information0%
Asset and Mission Profile0%
Orbit and Environment0%
Mission Phase Risk and Coverage0%
Current Coverage Structure0%
Regulatory0%
Financing and Investor Requirements0%
Testing and Validation0%
Operations and Cyber Posture0%
Key Risks and Coverage Gaps0%
Customer-facing quote
Rocket Lab launch cost
$10,000,000
Payload insured value
$30,000,000
Launch insurance premium
$1,800,000
Premium financing election
Financed in loan
Gross financeable package
$11,800,000
Customer finance requested
$11,800,000
Internal structured finance
CDI basis type
Launch cost plus financed launch insurance premium
CDI basis amount
$11,800,000
CDI rate
3.00%
CDI premium
$354,000
SFC finance amount
$11,800,000
Estimated borrower interest
$1,888,000
Customer down payment
$1,000,000
Repayment before launch
$14,042,000
Finance model
Borrower interest rate
8.00%
Term
24 months
Down payment
10%
Repayment date
Pre-launch (T-30 days)
Repayment source
Series C close + contract milestone
Existing debt
None disclosed
Security interests
UCC-1 over receivables
Investor support
Confirmed via term sheet
Guaranty support
Limited corporate
Assignment rights
Insurance proceeds assigned to SFC
Credit status
Finance Review
Insurance model
Coverage type
Launch plus in-orbit
Amount of insurance
$30,000,000
Rate on line
6.00%
Premium
$1,800,000
Attachment of risk
Intentional ignition
Termination of risk
L+12 months (in-orbit)
Launch vehicle
Electron
Known anomalies
None disclosed
Flight readiness
Pending L-90 review
Binding status
Indication only
Documents checklist
Launch Services Agreement
Launch · Required
Uploaded
Financial Statements (2yr)
Finance · Required
In Review
Capitalization Table
Finance · Required
Uploaded
Revenue Contracts
Finance · Optional
Missing
Satellite Technical Specs
Satellite Technical · Required
Uploaded
Satellite Procurement Contract
Satellite Technical · Required
Missing
Mission Description
Insurance · Required
Accepted
Subsystem Block Diagrams
Satellite Technical · Required
Needs Revision
Single Point Failure List
Satellite Technical · Required
Missing
Power Budgets
Satellite Technical · Optional
Uploaded
Propellant Budgets
Satellite Technical · Optional
Missing
Heritage Matrix
Underwriting · Optional
Missing
Test Plan
Satellite Technical · Required
In Review
Launch Vehicle Configuration
Launch · Required
Accepted
Payload Adapter Details
Launch · Required
Uploaded
Separation Details
Launch · Optional
Missing
Known Anomalies
Underwriting · Optional
Waived
Flight Readiness Confirmation
Launch · Required
Missing
Satellite Health Report
Insurance · Optional
Missing
Bind Order
Policy · Required
Missing
Closing Memo
Closing · Required
Missing
Required next actions
  • Awaiting cap table refresh
  • Confirm assignment of insurance proceeds
  • Submit Level 3 technical pack
Milestone timeline
  1. 2026-05-12
    Indicative quote run
  2. 2026-05-20
    Application Level 1 submitted
  3. 2026-06-01
    Finance review opened
  4. 2026-06-04
    Insurance markets engaged
Internal decision log
M. Chen — SFC2026-06-04

Borrower revenue contracts thin. Recommend tighter milestone covenant.

J. Alvarez — Alera2026-06-02

Engaged Relm and two backup markets for capacity confirmation.

System2026-05-12

Indicative quote generated using 6% rate on line.