Official press release from Lockheed Martin or major financial news outlets

Lockheed Martin to Acquire Terran Orbital for $450M at $0.25/Share, 30% Discount

Aug 15, 2024, 12:58 PM

Lockheed Martin has announced a definitive agreement to acquire Terran Orbital, a satellite manufacturing company based in Florida, for approximately $450 million. The deal involves purchasing Terran Orbital's outstanding common stock at $0.25 per share in cash and assuming its existing debt, representing a 30% discount from its previous closing price. This acquisition comes as Terran Orbital has been facing financial difficulties, with its stock previously trading at significantly higher values. The transaction aims to enhance Lockheed Martin's advanced satellite manufacturing and responsive space capabilities.