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.
Terran Orbital Releases Enhanced Versions of Enterprise Bus
Terran Orbital Corporation announced two additional configurations of its largest platform offered in the standard product line the Company initially announced in September: Enterprise. The Enterprise-class bus is the point of departure for flat packing requirements carrying up to 24 satellites per launch. It is optimal for large constellations and comes in three standard, yet configurable, configurations: A, B, and C.
Terran Orbital Holds Town Hall Meeting; Discusses Recently Announced $160 Million in New Awards
Terran Orbital Corporation held its first live Shareholder Town Hall Meeting yesterday. The virtual Town Hall was open to the public and included a live audio and video stream, during which the Company’s Chief Executive Officer, Marc Bell, and the lead independent director of the Company’s board of directors, Stratton Sclavos, provided a financial, operational, and strategic update and held a Q&A session.