Terran Orbital Secures Up to $98 Million via ATM Program
by Clarence Oxford
Los Angeles CA (SPX) Jul 25, 2024

Terran Orbital Corporation (NYSE: LLAP), a global leader in satellite-based solutions for the aerospace and defense industries, has announced an at-the-market (ATM) offering program. This program will enable the Company to sell its common stock in transactions categorized as "at the market" offerings, with a total value not exceeding $98,000,000. However, under the Company's existing debt agreements, sales are capped at 26,362,513 shares unless additional consent is obtained to sell more.

Sales through the ATM will be managed by the Company's sales agent, H.C. Wainwright and Co., LLC.

Marc Bell, Co-Founder, Chairman, and Chief Executive Officer of Terran Orbital, stated, "As opportunities from our business pipeline convert to awards, we want to give our customers and vendors additional confidence that we have adequate capital to successfully manage current and future programs. We are confident that the ATM announced today will allow us to deliver maximum value to our customers and other stakeholders."

This announcement does not constitute an offer to sell or a solicitation to buy these securities, nor will there be any sales of these securities in jurisdictions where such transactions are unlawful prior to registration or qualification under the relevant securities laws.

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