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 is holding its Town Hall meeting on October 26th but management will be strengthened by a new 36-craft order from Lockheed Martin (LM) for Terran’s satellite buses, the main structural component of a satellite. LM is a shareholder in Terran. The order comes because of LM contract with the US Space Development Agency […]
Satellite builder Terran Orbital, facing demands from some shareholders to fire the CEO and also being forced to restructure the company’s shares, is to hold a Town Hall meeting for shareholders. The virtual event is intended to be “transparent and accessible” and with “shareholders our top priority” said the company’s announcement. It is scheduled for […]
Last week some investors in Terran Orbital complained about the satellite company’s strategy. They called for the replacement of the company’s CEO and that a strategic review be implemented. Now, Terran’s independent directors have responded, and expressed confidence in the existing directors. Not helping is news from the New York Stock Exchange that Terran’s shares […]
Terran Orbital, which is busy building 600 satellites for Rivada Networks amongst others, and is handling something of an investor revolt, is also facing a major challenge from the New York Stock Exchange (NYSE). Under NYSE rules any share that falls below $1 in value can be de-listed. On October 20th the Exchange formally warned […]
Terran Orbital is busy building satellites including 600 for Rivada Networks, but a group of investors are concerned about the company’s depressed share price and demanding that the CEO Marc Bell be replaced – and the current role of CEO and Chairman be divided. The investors also want an urgent strategic review of the business. […]
Last week Rivada revealed it is using Terran Orbital to build its 600 satellites. SpaceX will then launch the constellation into orbit beginning in 2025. But one problem that’s not entirely solved is Rivada’s financing. While it has made some significant and key pre-payments to Terran, it is not yet clear where the initial cash […]