Posted: Sat, Mar 9, 2024, 9:19 AM ET (1419 GMT)
Lockheed Martin is offering to buy the two-thirds of smallsat manufacturer Terran Orbital it does not already own. Lockheed disclosed March 1 that it made an offer to buy the outstanding shares of Terran Orbital for $1 each, as well as pay more than $70 million to acquire stock warrants and $313 million to assume or repay Terran Orbital debt. Lockheed would spend more than $500 million if the deal is approved. Lockheed is the largest customer of Terran Orbital, buying its spacecraft for Space Development Agency contracts and other programs. Lockheed had also invested in the company, with its stake growing to a third of the company by 2022. Terran Orbital did not immediately comment on the offer.

Related Links:

•  SpaceNews article
•  Dow Jones article
•  CNBC article