Orbital Corporation

Terran Orbital Regains Compliance with NYSE Continued Listing Standards

Retrieved on: 
Tuesday, April 2, 2024
Technology, Other Defense, Venture Capital, Satellite, Aerospace, Professional Services, Manufacturing, Government Technology, Defense, Orbital Corporation

Terran Orbital Corporation (NYSE: LLAP ) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced that it received a notice from the New York Stock Exchange (the “NYSE”) on March 29, 2024 stating that the Company has regained compliance with the minimum stock price continued listing standard set forth in Section 802.01C and will be removed from the NYSE’s noncompliant issuers list.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced that it received a notice from the New York Stock Exchange (the “NYSE”) on March 29, 2024 stating that the Company has regained compliance with the minimum stock price continued listing standard set forth in Section 802.01C and will be removed from the NYSE’s noncompliant issuers list.
  • The Company previously received a noncompliance notice from the NYSE because the average closing price of the Company’s common stock was less than $1.00 per share over a consecutive 30 trading-day period ended October 18, 2023.
  • On March 28, 2024, the Company’s common stock closed above $1.00 and had an average closing share price of at least $1.00 over the prior 30 trading-day period.

Terran Orbital Reports Record 2023 Financial Results

Retrieved on: 
Monday, April 1, 2024
Technology, Research, Other Defense, Contracts, Engineering, Homeland Security, Aerospace, Manufacturing, Public Policy, Government, Mobile, Wireless, Defense, Construction & Property, Venture Capital, Finance, Satellite, Interior Design, Professional Services, Telecommunications, Software, Networks, Science, Growth, TVAC, Entrepreneurship, Business, Accounting, Capital expenditure, EAC, Orbital Corporation, Capital, Business intelligence, Small business, PIPE, Depreciation, GAAP, Intelligence, Hand

Terran Orbital Corporation (NYSE: LLAP) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced financial results and operational highlights for the three and twelve months ended December 31, 2023.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced financial results and operational highlights for the three and twelve months ended December 31, 2023.
  • Marc Bell, Co-Founder, Chairman, and Chief Executive Officer of Terran Orbital said, “I am pleased to report our company’s strong results for 2023.
  • The future of space is responsive, and Terran Orbital is well-positioned to capitalize on this growing market segment.
  • As of December 31, 2023, Terran Orbital had $71.7 million of cash on hand and approximately $313.8 million in gross debt obligations.

Terran Orbital Reschedules Fourth Quarter and Full-Year 2023 Earnings Call

Retrieved on: 
Monday, March 25, 2024
Defense, Technology, Satellite, Aerospace, Manufacturing, Other Defense, Orbital Corporation, Annual report, Security (finance)

Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced it will be filing its Annual Report on Form 10-K with the Securities and Exchange Commission on April 1, 2024 and that it has rescheduled its fourth quarter and full year 2023 earnings call.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced it will be filing its Annual Report on Form 10-K with the Securities and Exchange Commission on April 1, 2024 and that it has rescheduled its fourth quarter and full year 2023 earnings call.
  • The earnings call will be held on April 2, 2024 at 11:00 a.m. E.T.

Terran Orbital Awarded $15.2 Million Contract From the US Space Force

Retrieved on: 
Tuesday, March 5, 2024
Software, Other Defense, Contracts, Hardware, Technology, Defense, Other Manufacturing, Satellite, Engineering, Aerospace, Other Technology, Manufacturing, United States Space Force, Bell, Human, Multimedia, Conference, Orbital Corporation, LEO, Communications satellite

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, announced it was awarded a $15.2 million contract to supply Ambassador Class satellite platforms complete with solar arrays and support equipment to the Air Force Research Laboratory AFRL.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, announced it was awarded a $15.2 million contract to supply Ambassador Class satellite platforms complete with solar arrays and support equipment to the Air Force Research Laboratory AFRL.
  • The contract, managed through Axient Corporation, will integrate payloads onto these ESPA-Grande size space vehicle platforms to support specific United States Space Force missions.
  • “Demonstrating Terran Orbital’s commitment to Responsive Space, these space vehicles will be delivered off Terran Orbital’s production line in less than twelve months,” Bell added.
  • In a recent presentation at the SpacePower Conference, Terran Orbital emphasized its commitment to providing Responsive Space capabilities for the National Security Space sector.

Terran Orbital Corporation Adopts Limited Duration Stockholder Rights Plan; Independent Committee of the Board will Determine Course of Action in Best Interest of all Stockholders

Retrieved on: 
Monday, March 4, 2024
Satellite, Venture Capital, Defense, Other Defense, Professional Services, Technology, Aerospace, Manufacturing, Person, Martin, Disclosure, Orbital Corporation, Lockheed Martin, Lockheed, Security (finance)

The Board adopted the Rights Plan following a non-binding proposal (the “Lockheed Proposal”) from Lockheed Martin Corporation (“Lockheed Martin”) on March 1, 2024 to acquire all outstanding shares of the Company’s common stock for cash.

Key Points: 
  • The Board adopted the Rights Plan following a non-binding proposal (the “Lockheed Proposal”) from Lockheed Martin Corporation (“Lockheed Martin”) on March 1, 2024 to acquire all outstanding shares of the Company’s common stock for cash.
  • However, there is no guarantee that a strategic transaction involving Lockheed Martin or any other party will be approved or consummated.
  • The Rights Plan will expire on the close of business on the first anniversary of the date of entry into the Rights Plan unless extended for two more years by stockholders.
  • The Board may consider an earlier termination of the Rights Plan if market and other conditions warrant.

Terran Orbital Announces Agreement with Shareholder Group

Retrieved on: 
Monday, February 5, 2024
Aerospace, Manufacturing, Satellite, Defense, Telecommunications, Other Defense, Software, Contracts, Venture Capital, Networks, Finance, Internet, Hardware, Professional Services, Technology, Mobile, Wireless, Robotics, Engineering, LEO, Agreement, GEO, Orbital Corporation, Management

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced that it has entered into an agreement with the investor group comprised of Sophis Investments LLC, Sophis GP LLC, Tassos Recachinas, Roark’s Drift, LLC, Joseph Roos, Jordi Puig-Suari, Roland Coelho, and Austin Williams (collectively, the “Investor Group”).

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced that it has entered into an agreement with the investor group comprised of Sophis Investments LLC, Sophis GP LLC, Tassos Recachinas, Roark’s Drift, LLC, Joseph Roos, Jordi Puig-Suari, Roland Coelho, and Austin Williams (collectively, the “Investor Group”).
  • Marc Bell, the Company’s Co-Founder, Chairman, and CEO, said, “Company management and the Board of Directors (the ‘Board’) take shareholder feedback seriously.
  • We have had a very constructive dialogue with the Investor Group and appreciate their input toward achieving our shared goal of driving shareholder value.
  • Terran Orbital’s satellite platforms are actively performing missions across commercial, civil, and military domains, while operating in LEO, GEO, and around the Moon.

Terran Orbital to Host Fourth Quarter and Full-Year 2023 Earnings Call

Retrieved on: 
Wednesday, January 31, 2024
Technology, Other Defense, Engineering, Satellite, Telecommunications, Aerospace, Manufacturing, Science, Defense, Other Science, Orbital Corporation

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, will host a conference call at 11:00 a.m. E.T.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, will host a conference call at 11:00 a.m. E.T.
  • on March 26, 2024 to discuss the Company’s fourth quarter and full-year 2023 results, operational performance, and outlook.
  • The Company’s earnings release will be published prior to market open on the same day.
  • Additionally, a live webcast and replay will be available under the Events and Presentations section of Terran Orbital’s investor relations website at Terran Orbital Corporation – Events & Presentations.

Terran Orbital Wins 2024 BIG Innovation Award

Retrieved on: 
Wednesday, January 10, 2024
Satellite, Technology, Entrepreneurship, Orbital Corporation, Multimedia, Organization, NASA

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defensive industries, announced today that CAPSTONE™, a satellite manufactured by Terran Orbital for Advanced Space’s NASA lunar mission, has been named a winner in the 2024 BIG Innovation Awards presented by the Business Intelligence Group.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defensive industries, announced today that CAPSTONE™, a satellite manufactured by Terran Orbital for Advanced Space’s NASA lunar mission, has been named a winner in the 2024 BIG Innovation Awards presented by the Business Intelligence Group.
  • View the full release here: https://www.businesswire.com/news/home/20240109670290/en/
    “At Terran Orbital, we aim to keep innovation at the forefront of our company’s mission.
  • Receiving recognition for this is an honor, and we will continue our commitment to being a leader in the space,” says Marc Bell , Co-Founder, Chairman, and Chief Executive Officer at Terran Orbital.
  • “We are thrilled to be honoring Terran Orbital as they are leading by example and improving the lives of so many.”
    Organizations from across the globe submitted their recent innovations for consideration in the BIG Innovation Awards.

Terran Orbital Receives Payment from Rivada

Retrieved on: 
Tuesday, January 2, 2024
Aerospace, Technology, Manufacturing, Professional Services, Venture Capital, Satellite, Telecommunications, Other Defense, Defense, Contracts, Mobile, Wireless, Orbital Corporation, Rivada Networks, Security (finance), Multimedia, Corporate communication

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced that it had received a payment from Rivada Space Networks (“Rivada”) pursuant to the Company's previously announced contract with Rivada (the “Rivada Contract”).

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced that it had received a payment from Rivada Space Networks (“Rivada”) pursuant to the Company's previously announced contract with Rivada (the “Rivada Contract”).
  • The Company expects to receive additional milestone payments in 2024 and continues to expect to meet its delivery obligations under the Rivada Contract on schedule in 2025 and 2026.
  • View the full release here: https://www.businesswire.com/news/home/20240102641669/en/
    As a privately held company, Rivada is not required to report any information regarding its financial or operational performance.
  • Any inquiries regarding Rivada or the Rivada Contract should be directed to Brian Carney, Corporate Communications, Rivada Networks, [email protected] .

Terran Orbital Reports an Excess of $70 Million Year-End Cash Balance

Retrieved on: 
Tuesday, January 2, 2024
Mobile, Wireless, Networks, Contracts, Professional Services, Venture Capital, Technology, Defense, Satellite, Engineering, Aerospace, Manufacturing, Telecommunications, Orbital Corporation, Multimedia

Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today pre-announced its 2023 year-end cash balance.

Key Points: 
  • Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today pre-announced its 2023 year-end cash balance.
  • This press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20240102552268/en/
    Terran Orbital expects to report an excess of $70 million in cash and cash equivalents as of December 31, 2023, compared to cash and cash equivalents of $38.7 million as of September 30, 2023, primarily resulting from the receipt of key customer payments at year-end.
  • “We are entering 2024 with a strong financial foundation that we believe will enable us to continue to execute on our strategic and operational objectives,” said Marc Bell, Terran Orbital’s Co-Founder, Chairman, and Chief Executive Officer.