Satellite builder Terran Orbital has adopted a so-called ‘poison pill’ share reconstruction in its defence of a buy-out by its existing major shareholder Lockheed Martin (L-M). Officially, it is a limited period stockholder rights plan. The company stated: “An independent committee of the Board will review and evaluate the Lockheed Proposal as part of the […]
Boca Raton-based Terran Orbital builds small-to-midsized satellites. Its order book includes 300 satellites for Rivada Networks, it has contracts in place with the European Space Agency (ESA) and NASA’s Space development Agency. In 2023 it introduced a range of seven standardised satellite options for clients wanting a speedy solution for nano, micro, mini and small […]
Boca Raton satellite manufacturer Terran Orbital, in a company update, says that the company is a very strong position. Terran’s CEO, Marc Bell, commented: “The demand signals from our market remain strong. The company is engaged in over 80 near-term opportunities relating to more than 2,800 satellite buses for 40 different customers. Stepping back to […]
Some weeks ago a group of shareholders in satellite builder Terran Orbital were complaining about the company’s financial performance and suggestions that Marc Bell, Terran’s CEO should be replaced. A statement from Terran says that it has entered into an agreement with the investor group comprised of Sophis Investments, Sophis GP, Tassos Recachinas, Roark’s Drift, […]
Satellite builder Terran Orbital, already under considerable pressure from the NYSE because of its low share price, issued a statement (on a Form 8-K) to the SEC on December 11th which formally notifies shareholders that it is conducting a “formal strategic review” of its business. Reports suggest that Terran is seeking a buyer or partner […]
Satellite builder Terran Orbital, already under considerable pressure from the NYSE because of its low share price, issued a statement (on a Form 8-K) to the SEC on December 11th which formally notifies shareholders that it is conducting a “formal strategic review” of its business. Reports suggest that Terran is seeking a buyer or partner […]
A few weeks ago Terran Orbital was facing calls to fire the CEO and replace members of its Board of Directors. Terran is now suing former CTO Austin Williams and alleging his involvement in the attempted coup. Terran’s lawsuit, made on November 13th and a year after Williams left the company, alleges that Williams failed […]
Satellite builder Terran Orbital reported that its revenues for 2023 would be almost half original expectations because key client Rivada Space Networks has yet to make an agreed milestone payment. The original expectation for 2023 was for $250 million (€230.3m) in revenue. Now Terran says it will be “in excess” of $130 million, some 48 […]
Terran Orbital held a virtual Town Hall meeting for shareholders on October 26th in an attempt to quell dissent amongst certain shareholders. The event provided some key news, not all of it positive, but its share price recovered a little to 84 cents (€0.80). Last week, the share were trading at about 64 cents. Marc […]
Satellite builder Terran Orbital has won a modest $4.7 million (€4.5m) contract from the European Space Agency (ESA) for an “in-orbit servicing mission”. The news is extremely timely as Terran is holding a Town Hall virtual meeting today (October 26th) for shareholders, some of whom have expressed displeasure with the CEO and Board of Directors […]