Terran Orbital raising $98m in share sale
July 25, 2024
By Chris Forrester

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 which limit its cash-raising possibilities. Terran needs LM’s permission to offer for sale the maximum number of shares under the plan, and thus raise the maximum of $98 million.
It currently has 204.13 million shares in issue. This number is expected to grow to 230.49 million. The extra cash will be used for general business needs.
Terran, in a prospectus which accompanied the offering, admitted that existing shares will be diluted by at least $1.25 per share in value.
Terran is building satellites for LM but its greatest work-in-progress is a 300 satellite order from Rivada Space Networks.
Other posts by :
- Italy joins Germany in IRIS2 alternate thoughts
- Kazakhstan to create museum at Yuri Gagarin launch site
- AST SpaceMobile gets $42 or $1500 price target
- Analyst: GEO bloodbath taking place
- SES AGM results: Appaloosa still objecting
- SpaceX’s Shotwell worth $1.2bn
- SpinLaunch’s revolutionary plan for 280 satellites
- Consolidation impacts satellite sector
- Project Kuiper plans first satellite launch