Struggling satellite manufacturer Terran Orbital is being bought – some say rescued – by aerospace giant Lockheed Martin (L-M) in a deal worth around $450 million. L-M is paying $0.25 per share for Terran and will pay off Terran’s debts. The end result will be a new company that is 100 percent owned by L-M. […]

Lockheed Martin (L-M) has signed a definitive agreement to acquire Terran Orbital. L-M was already a significant investor and client of Terran. The enterprise value of the transaction is about $450 million (€411m). L-M will acquire Terran Orbital for $0.25 in cash for each outstanding share of common stock and retire its existing debt. This […]

“As of July 31st 2024, the Company’s cash and cash equivalents balance was approximately $14.6 million which, without additional funding, will not be sufficient to meet its obligations within the next twelve months from the issuance of this quarterly report.” So said the cautionary note which accompanied Terran’s quarterly trading statement (for the three months […]

Boca Raton-based satellite builder Terran Orbital is looking to issue additional shares in the company worth a maximum total of $98 million (€90.3m). Terran is limited as to what it can raise by issuing new shares. Terran Orbital has Lockheed Martin (LM) as a major shareholder. LM and certain other shareholders have undertakings from Orbital […]

Boca Raton-based satellite builder, Terran Orbital, has received formal notification from the New York Stock Exchange that the company was in ‘non-compliance’ with its rules. The NYSE rules are that shares must stay above $1 in value. Terran’s share price is currently just 74 cents and for the past month it has been below $1. […]

Terran Orbital has released its Q1 numbers, and reported that it has received a major order from Lockheed Martin for “18 space vehicles for the US Space Development Agency” – taking its Q2 portfolio of orders received to beyond $100 million. However, there has been no interim payment during the quarter-year from its major client, […]

Aerospace giant Lockheed Martin (LM), already a major shareholder in satellite builder Terran Orbital, has abandoned its contested bid to take control of the company. LM had offered around $500 million (€465.4m) for the shares – at $1 per share – it did not already own, but in a SEC filing made after the markets […]

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 […]