Date:	--/--/-- --:--:--
Event Id:	E55TB48ML
Action Type:	ACQUISITION
Action Status:	COMPLETED
Acquirer Symbol:
Target Symbol:	LLAP
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	0.25
Price Per Share Currency:	USD
News References:	https://www.prnewswire.com/news-releases/lockheed-martin-advances-space-capabilities-through-strategic-terran-orbital-acquisition-302291536.html

Action Notes

Lockheed Martin today announced the signing of a definitive agreement to acquire Terran Orbital [NYSE: LLAP], a global leader of satellite-based solutions primarily supporting the aerospace and defense industries. The enterprise value of the transaction is approximately $450 million. Lockheed Martin will acquire Terran Orbital for $0.25 in cash for each outstanding share of common stock and retire its existing debt. This transaction also provides for Lockheed Martin and other current Terran Orbital creditors establishing a new, $30 million working capital facility that has been put in place as of signing. The transaction is expected to close in fourth quarter of 2024 and is subject to the satisfaction of customary closing conditions, including regulatory and Terran Orbital stockholder approvals. Upon closing, Terran Orbital will remain a commercial merchant supplier to industry. The Terran Orbital special shareholder meeting will be held on 10/29.