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.






