24/7 Space News
Terran Orbital Announces $37.1 Million Registered Direct Offering
illustration only
Terran Orbital Announces $37.1 Million Registered Direct Offering
by Staff Writers
Boca Raton FL (SPX) May 26, 2023

Terran Orbital Corporation (NYSE: LLAP) has entered into a definitive securities purchase agreement for the purchase and sale of 29,000,000 shares of the Company's common stock (or common stock equivalents) and warrants to purchase 29,000,000 shares of common stock at a combined purchase price of $1.28 per share of common stock (or common stock equivalent) and accompanying warrant in a registered direct offering.

The warrants will have an exercise price of $1.43 per share, will be exercisable commencing six months following issuance, and will have a term of exercise equal to five years following the initial exercise date. The closing of the offering is expected to occur on or about May 30, 2023, subject to the satisfaction of customary closing conditions.

H.C. Wainwright and Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering are expected to be approximately $37.1 million, before deducting the placement agent's fees and other offering expenses payable by the Company. Terran Orbital intends to use the net proceeds of this offering for general corporate purposes including capital expenditures, working capital, research and development and general and administrative expenses.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-271093) that was declared effective by the Securities and Exchange Commission (the "SEC") on April 18, 2023.

A prospectus supplement related to the offering will be filed with the SEC and may be obtained, when available, on the SEC's website, located at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from H.C. Wainwright and Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 865-5711 or e-mail at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Related Links
Terran Orbital Corporation
The latest information about the Commercial Satellite Industry

Subscribe Free To Our Daily Newsletters

The following news reports may link to other Space Media Network websites.
NASA funds small business to advance tech for Space, Earth
Washington DC (SPX) May 24, 2023
A new slate of funding from NASA will help small businesses develop technologies to advance space exploration, climate research, and more. In mid-April, NASA selected 112 proposals from 92 U.S. small businesses across 28 states to receive Phase II funding from the Small Business Innovation Research (SBIR) program, totaling approximately $98 million. This program provides early-stage funding and other support to small businesses with ideas to help advance NASA's goals and aerospace technology. In P ... read more

ASPINA Launches Space Team

Solar Foods one of the Phase II winners of NASA Deep Space Food Challenge

Virgin Galactic resumes spaceflights after two year pause

The Huginn mission - an overview

South Korea hails successful launch of homegrown rocket

Stratolaunch expands fleet with Virgin Orbit's modified Boeing 747

NASA, Boeing provide update on Starliner flight test readiness

Rocket Lab launches second batch of TROPICS satellites for NASA

Ingenuity's high-stakes game of hide and seek

Meet the scientist (sort of) spending a year on Mars

Hitting the road after three weeks at Ubajara: Sols 3839-3840

MAHLI works the night shift: Sols 3837-3838

China launches Shenzhou-16 with first civilian to space station

China's 'space dream': A Long March to the Moon and beyond

Chinese mission with first civilian reaches space station

China launches Shenzhou-16 with first civilian to space station

Terran Orbital Announces $37.1 Million Registered Direct Offering

A Saudi Arabian satellite launches on a SpaceX Falcon 9 rocket

NASA funds small business to advance tech for Space, Earth

Iridium adds to constellation resilience with launch of spare satellites

Technicians apply thermal protection material to SLS

What do we know about the mechanics of two-dimensional materials

Understanding boiling to help the nuclear industry and space missions

Arabsat Badr-8 launched

The search for habitable planets expands

Astronomers discover a key planetary system to understand the formation mechanism of the mysterious 'super-Earths'

New study provides novel insights into the cosmic evolution of amino acids

Chemistry: Meteoritic and volcanic particles may have promoted origin of life reactions

Juice deployments complete: final form for Jupiter

First observation of a Polar Cyclone on Uranus

Research 'solves' mystery of Jupiter's stunning colour changes

NASA's Juno mission closing in on Io

Subscribe Free To Our Daily Newsletters

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.