Terran Orbital surges 71% after winning $2.4 billion contract to build satellites for Rivada
Publishing timestamp: 2023-02-22 16:07:21
Summary
Terran Orbital announced a $2.4 billion contract to build communications satellites for Rivada Space Networks. The spacecraft builder will design, manufacture and deploy 288 satellites for Rivada, as well as 12 spare satellites, for a total contract of 300 satellites. Terran Orbital's stock surged after the announcement and the company's CEO believes it is the largest small satellite deal in history. Rivada aims to begin launching satellites as early as 2025 and their network will be designed to cater to enterprise and government customers.
Sentiment: POSITIVE
Tickers: LLAP,
Keywords: space industry, the edge, business, tailwind two acquisition corp, technology, aerospace and defense industry, transportation, breaking news: technology, breaking news: business, business news,
Source: https://www.cnbc.com/2023/02/22/terran-orbital-wins-2point4-billion-rivada-satellite-contract.html