Posted: Sun, Aug 18, 2024, 12:06 PM ET (1606 GMT)
Lockheed Martin will acquire small satellite manufacturer Terran Orbital. The companies announced Thursday a deal where Lockheed will pay $0.25 per share and retire Terran's debt. Lockheed, which already owns one-third of Terran, had offered $1 a share for the company in March but withdrew the offer two months later. The companies said that Terran Orbital will continue to be a "commercial merchant supplier to industry" of smallsats, although Lockheed makes up more than 90% of Terran's funded backlog today. Terran Orbital said earlier in the week it was considering a range of strategic options that included a sale of the company as its cash reserves dried up.

Related Links:

•  SpaceNews article
•  Reuters article
•  ViaSatellite article
•  UPI article
•  Lockheed Martin press release