Lockheed Martin to take struggling spacecraft manufacturer Terran Orbital private in $450 million deal
Publishing timestamp: 2024-08-15 08:59:48
Summary
Lockheed Martin is acquiring Terran Orbital at an enterprise valuation of nearly $450 million, below their previous bid. The deal is expected to close in the fourth quarter and will help Terran avoid a cash and debt crisis. Terran, a struggling spacecraft manufacturer, went public via a SPAC in early 2022 but has been hit hard by market conditions. Lockheed Martin is already a significant stakeholder in Terran and is also an important customer.
Sentiment: MIXED
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Source: https://www.cnbc.com/2024/08/15/lockheed-martin-take-terran-orbital-private.html