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 […]
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 […]