Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the
“Company”), a global leader in satellite-based solutions primarily
serving the aerospace and defense industries, today announced the
pricing of its previously announced public offering of 23,214,290
shares of its common stock (or common stock equivalents in lieu
thereof) and warrants to purchase up to 23,214,290 shares of common
stock, at a combined public offering price of $1.40 per share (or
common stock equivalent in lieu thereof) and accompanying warrant.
The warrants have an exercise price of $1.50 per share, are
immediately exercisable, and will expire five years following the
date of issuance. The offering is expected to close on or about
September 21, 2023, subject to the satisfaction of customary
closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds from the offering to the Company are expected
to be approximately $32.5 million, before deducting placement
agent’s fees and other offering expenses payable by the Company.
Terran Orbital expects to use the net proceeds of the offering for
general corporate purposes, including capital expenditures, working
capital, research and development, and general and administrative
expenses, and maintenance of the liquidity covenant in the
Company’s debt documents.
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. The offering is
being made only by means of a prospectus supplement and
accompanying prospectus that form a part of the shelf registration
statement. A final 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 final
prospectus supplement and the accompanying prospectus relating to
the offering may also be obtained, when available, from H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York,
NY 10022, by phone at (212) 865-5711 or e-mail at
placements@hcwco.com.
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.
About Terran Orbital
Terran Orbital Corporation is a leading manufacturer of
satellite products primarily serving the aerospace and defense
industries. Terran Orbital provides end-to-end satellite solutions
by combining satellite design, production, launch planning, mission
operations, and on-orbit support to meet the needs of the most
demanding military, civil, and commercial customers. Learn more at
www.terranorbital.com.
Forward-Looking Statements
This press release contains “forward-looking statements” for
purposes of the federal securities laws. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. Forward-looking
statements are typically identified by such words as “plan,”
“believe,” “expect,” “anticipate,” “intend,” “outlook,” “expect”
“may,” “might,” “possible,” “potential,” “predict,” “will,”
“should,” “would” and “could” and other similar words and
expressions. These forward-looking statements involve a number of
risks, uncertainties (many of which are beyond our control), or
other assumptions that may cause actual results or performance to
be materially different including, but not limited to: the
consummation of the offering, the satisfaction of the closing
conditions of the offering, the use of net proceeds of the
offering, local, national and global conditions impacting the
capital markets and the market for our securities; the general
volatility of the capital markets; our ability to finance our
operations, research and development activities and capital
expenditures; expectations regarding our strategies and future
financial performance, including our future business plans or
objectives, anticipated cost, timing and level of deployment of
satellites, prospective performance and commercial opportunities
and competitors, the timing of obtaining regulatory approvals,
retention and expansion of our customer base, product and service
offerings, pricing, marketing plans, operating expenses, market
trends, revenues, margins, liquidity, cash flows and uses of cash,
capital expenditures, and our ability to invest in growth
initiatives; the ability to implement business plans, forecasts,
and other expectations, and to identify and realize additional
opportunities; anticipated timing, cost, financing and development
of our satellite manufacturing capabilities; prospective
performance and commercial opportunities and competitors; our
expansion plans and opportunities; our ability to finance and
invest in growth initiatives; geopolitical risk and changes in
applicable laws or regulations; the possibility that we may be
adversely affected by other economic, business, and/or competitive
factors; the possibility that the COVID-19 pandemic, or another
major disease, natural disaster, or threat to the physical security
of our facilities or employees disrupts our business; our ability
to achieve profitability and meet expectations regarding cash flow
from operations and investments; our leverage and our ability to
service cash debt payments and comply with debt maintenance
covenants, including meeting minimum liquidity and operating profit
covenants; our ability to access invested cash or cash equivalents
upon failure of any financial institutions we bank with; limited
access, or access on unfavorable terms, to equity and debt capital
markets and other funding sources that will be needed to fund
operations and make investments; litigation and regulatory
enforcement, including the diversion of management time and
attention and the additional costs and demands on our resources;
and the other risks disclosed in our filings with the Securities
and Exchange Commission (the “SEC”) from time to time, including in
our Annual Report on Form 10-K filed with the SEC on March 23,
2023, our Quarterly Report on Form 10-Q filed with the SEC on
August 14, 2023 and the preliminary prospectus supplement filed
with the SEC on September 18, 2023 related to our Registration
Statement on Form S-3 (File No. 333-271093), which was declared
effective by the SEC on April 18, 2023.
These forward-looking statements are based on management’s
current expectations, plans, forecasts, assumptions, and beliefs
concerning future developments and their potential effects. There
can be no assurance that the future developments affecting us will
be those that we have anticipated, and we may not actually achieve
the plans, intentions or expectations disclosed in our
forward-looking statements, and you should not place undue reliance
on our forward-looking statements. New risk factors and
uncertainties may emerge from time to time, and it is not possible
to predict all risks. The forward-looking statements contained in
this press release are made as of the date of this press release,
and we do not assume any obligation to, and we do not intend to,
update any forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230918895925/en/
Investor Relations Contact ir@terranorbital.com 949-202-8476
Public Relations Contact pr@terranorbital.com 949-508-8484
Terran Orbital (NYSE:LLAP)
過去 株価チャート
から 6 2024 まで 7 2024
Terran Orbital (NYSE:LLAP)
過去 株価チャート
から 7 2023 まで 7 2024