Terran Orbital Awarded a $15.2 million Contract from the US Space Force
Terran Orbital Corporation 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. Delivery is planned in the 4th quarter of 2024.
Voyager Vitality! Terran Orbital’s CAPSTONE Nanosatellite Exceeds Expectations
Terran Orbital Corporation announced that its 12U nanosatellite built for Advanced Space’s CAPSTONE™ mission in support of NASA, has surpassed 450 days in orbit around the moon. Launched June 28, 2022, the space vehicle based on Terran Orbital’s proven Voyager platform continues to demonstrate exceptional stability and performance while supporting critical lunar navigation experiments.
Terran Orbital Announces Agreement with Shareholder Group
Terran Orbital 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”).
Terran Orbital Reports an Excess of $70 Million Year-End Cash Balance
Terran Orbital Corporation today pre-announced its 2023 year-end cash balance. The company 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.
Terran Orbital Receives Payment from Rivada
Terran Orbital Corporation today announced that it had received a payment from Rivada Space Networks pursuant to the Company’s previously announced contract with Rivada. The amount was for the completion of a program milestone. As a result, Rivada is current on all outstanding invoices. 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.
Terran Orbital Celebrates CAPSTONE Spacecraft’s One Year in Near Rectilinear Halo Orbit
Terran Orbital Corporation celebrates the one-year milestone of the CAPSTONE mission in a lunar Near Rectilinear Halo Orbit (NRHO). CAPSTONE, designed, built, and integrated by Terran Orbital and owned by Advanced Space, has demonstrated significant achievements during its mission.