Lockheed Martin offers to buy startup satellite maker Terran Orbital
Lockheed Martin now has submitted an offer to buy the startup satellite maker Terran Orbital for $293 million.
Lockheed Martin has submitted a nonbinding offer to buy satellite maker Terran Orbital’s 223 million outstanding shares for $1 each and pay $70 million for its outstanding warrants.
Lockheed Martin also offered to cover about $313 million of the company’s outstanding debt.
Lockheed already owns 28.3% of Terran Orbital, and uses the satellite maker to produce its military satellites, so this deal seems a good fit. It also fits the overall long term strategy of Lockheed, which has been investing in a number of other startups (such as rocket startups Rocket Lab and ABL). The company has clearly seen the future. Rather than continue working like an old-style bloated big space company, it has been using these new companies as models for its future work.
Lockheed Martin now has submitted an offer to buy the startup satellite maker Terran Orbital for $293 million.
Lockheed Martin has submitted a nonbinding offer to buy satellite maker Terran Orbital’s 223 million outstanding shares for $1 each and pay $70 million for its outstanding warrants.
Lockheed Martin also offered to cover about $313 million of the company’s outstanding debt.
Lockheed already owns 28.3% of Terran Orbital, and uses the satellite maker to produce its military satellites, so this deal seems a good fit. It also fits the overall long term strategy of Lockheed, which has been investing in a number of other startups (such as rocket startups Rocket Lab and ABL). The company has clearly seen the future. Rather than continue working like an old-style bloated big space company, it has been using these new companies as models for its future work.